National Council for Micro Small & Medium
In India, the Micro and Small Enterprises (MSEs) sector plays a pivotal role in
the overall industrial economy of the country. It is estimated that in terms of
value, the sector accounts for about 39% of the manufacturing output and around
33% of the total export of the country. Further, in recent years the MSE sector
has consistently registered higher growth rate compared to the overall industrial
sector. The major advantage of the sector is its employment potential at low capital
cost. As per available statistics, this sector employs an estimated 31 million persons
spread over 12.8 million enterprises and the labor intensity in the MSE sector is
estimated to be almost 4 times higher than the large enterprises. It is also It
is their dexterity, flexibility and innovation that have helped the Indian SMEs
stand the test of time to face economic cycles and emerge stronger, smarter, leaner
and more resilient.
Despite significant contribution in country’s GDP, SMEs are smeared with myriad
challenges. Needless to say that it is highly unorganized sector and performance
is not as expected as it carries the potential.
Keeping in view these imperative aspects, IBCHAM National council for MSMEs has
taken the responsibility and committed to make the SMEs realize the virtues of professionalism,
sound disclosures, tax- consciousness, building credit worthiness to generate the
required capital and investment in technology, people and good governance.
IBCHAM (Indian Business Chamber) strongly believes that these entire changes auger
well for the sector and will outperform the result beyond expectations.