World MSME Day - Plays a huge role in the economy!!!
Every year 27 june is celebrated as MSME Day by the United Nations to raise awareness about the contribution of Micro, Small, and Medium-sized Enterprises (MSMEs). MSMEs play a huge role in the economy and employment generation around the world. By 2030, the world will have to create 600 million more jobs. For this, it is necessary to promote small and medium-sized enterprises.
MSMEs in the world
According to the World Bank, about 90% of the businesses and more than 50% of the jobs worldwide are generated from MSMEs. Its share in the GDP of the whole world is 50%. At the same time, the contribution of MSME to the developing economy is up to 40 percent. Not only this, 7 out of 10 jobs in these countries are created in SMEs (Small & Medium Enterprises).
More than 95% of Micro Enterprises in India
NSSO (National Sample survey Office) survey for the year 2015-16 estimates that there are 6.3 crore MSMEs working in the country. Due to this, more than 11 crore people in the country have got employment. Of these, 1.96 crores are classified in manufacturing, 2.3 crores in business, and 2 crores in other categories. At the same time, the number of MSMEs registered on the enterprise portal in india has crossed 92.76 lakh by june 26. Out of this, more than 95 percent are micro industries.
