New Delhi, Jan 5 (KNN) About 96 per cent of Micro, Small and Medium Enterprises (MSMEs) are optimistic that in 2023 the profits will increase, as per a study conducted by a MSME-focused digital lender, NeoGrowth.

Released on Wednesday, the study was conducted across India with about 3,000 MSME owners participating as respondents.

It covered the expectations of MSME owners across 25+ cities and 70+ business segments, as they step into 2023 amidst global headwinds.

Commenting on the study, Arun Nayyar, Managing Director and CEO, NeoGrowth, said, “It is heartening that MSMEs are confident about their growth, profitability and other business indicator. We believe that the strong digital ecosystem in India will be a catalyst for MSME lending in the coming year.”

“MSMEs are capitalising on new credit options to build and scale their businesses easily, unimpeded by traditional methods of credit underwriting. 2023 will be a crucial year for MSMEs, which will play a pivotal role as India moves a step closer to realising its vision of a USD 5-trillion economy,” Nayyar added.

Expressing confidence, three out of four MSMEs were optimistic about the economic growth in 2023 while 20 per cent were neutral and only 5 per cent were negative.

Among the respondents, 80 per cent of women MSMEs from the manufacturing and services sector said they were optimistic about India's economic growth.  (KNN Bureau)