New Delhi, June 26 (KNN) The International Trade Centre (ITC) is celebrating the first International MSME Day on June 27, 2017.

ITC is the joint agency of the UN and the WTO supporting SMEs in developing countries and transition economies for sustainable and inclusive trade

ITC said, “Join us on Tuesday 27 June to celebrate the first-ever international Micro, Small and Medium-Sized Enterprises Day. The theme is ‘Small business – big impact’.”

It said, “It will be an occasion to reflect upon and recognize the important role MSMEs can play in achieving the United Nations 2030 Agenda for Sustainable Development and ensuring a more inclusive global society. This will be a chance to hear directly from MSMEs about the opportunities and challenges they face.”

In a tweet, “We are excited to announce the UN's first annual Micro, Small and Medium-Sized Enterprises Day! Small business - big impact! #MSMEDAY17”

June 27, after being marked as the MSME Day, is being celebrated globally to recognize the importance of the role that the sector plays in generating employment and in a country’s economy.

ITC said more than 90% of world’s businesses are micro, small and medium enterprises. There are 500 million MSMEs in the world and they represent 90 per cent of all goods exporters.

MSME sector also accounts for 60 per cent of services exporters. ITC said MSMEs account for 50 per cent of global GDP and are responsible for 70 per cent of total employment.

In a tweet, UNCTAD said 70% of MSME owners exclusively rely on their businesses as sources of income and 45% earn less than USD138.

Joining in this endeavour, Ministry of MSME, Government of India, is also celebrating International MSME Day on June 27 by felicitating the MSME achievers by conferring National MSME Awards and launching Digital MSME Scheme. (KNN Bureau)