MSMEs: The Way Forward for Capacity Building and Growth

I recently read an article that talks about how MSMEs (Micro Small and Medium Enterprises) have been one of the major factors behind India's economic growth. This article describes MSMEs as India's growth engine and also highlights how they contribute to nearly one-third of India's GDP.

In the past few years, the government has also been promoting MSMEs through various schemes such as the Prime Minister Employment Generation Programme and Micro and Small Enterprises Cluster Development Programme. These have helped build capacity, while also contributing to the growth of the economy. This capacity is built as these MSMEs require greater investment in human capital, while also equipping people with skills that a needed in the future. Building Capacity is of utmost importance as it also helps one solve global challenges.

https://www.livemint.com/news/india/msmes-are-the-growth-engine-of-india-contribute-30-to-the-gdp-11663347449050.html

https://www.investindia.gov.in/schemes-msmes-india