ENA MSME 2024-12-24 16:09:32 <p><span style="font-size:14px"><strong>New Delhi, Dec 24 (KNN)</strong> The Micro, Small, and Medium Enterprises (MSMEs) sector in India has emerged as a cornerstone of economic progress, demonstrating unparalleled growth and resilience.</span></p> <p><span style="font-size:14px">Exports from MSMEs have surged exponentially, growing from Rs 3.95 lakh crore in 2020-21 to a remarkable Rs 12.39 lakh crore in 2024-25, reported Business Standard.</span></p> <p><span style="font-size:14px">This impressive expansion underscores the sectors pivotal role in strengthening Indias economy and boosting global trade connections. The number of MSME exporters has also soared, rising from 52,849 in 2020-21 to an astounding 1,73,350 in 2024-25.</span></p> <p><span style="font-size:14px">This exponential increase highlights the sectors expanding footprint in global markets and its ability to adapt and innovate in a highly competitive environment.</span></p> <p><span style="font-size:14px">MSMEs contributed 45.73 per cent to Indias exports in 2023-24, a figure that has grown to 45.79 per cent by May 2024, reaffirming their critical role in Indias trade performance.</span></p> <p><span style="font-size:14px">Beyond exports, MSMEs continue to play a significant role in domestic economic contributions, with their Gross Value Added (GVA) to GDP increasing from 29.7 per cent in 2017-18 to 30.1 per cent in 2022-23.</span></p> <p><span style="font-size:14px">The sector's growth is further underscored by the consistent upscaling of enterprises. Between 2020-21 and 2021-22, 714 Micro enterprises grew to Medium, and 3,701 Small enterprises transitioned to Medium status.</span></p> <p><span style="font-size:14px">This upward trend has accelerated in recent years, with 2,372 Micro and 17,745 Small enterprises achieving Medium enterprise status in 2023-24 and 2024-25.</span></p> <p><span style="font-size:14px">This progression reflects the dynamism of Indias MSME sector, which has shown remarkable adaptability amid global economic uncertainties.</span></p> <p><span style="font-size:14px">The governments focus on promoting ease of doing business, coupled with strategic financial and policy interventions, has been instrumental in driving this growth.</span></p> <p><span style="font-size:14px">As MSMEs continue to thrive, they not only bolster Indias economic stability but also enhance its standing in the global trade arena.</span></p> <p><span style="font-size:14px">This sectors extraordinary trajectory serves as a testament to its resilience, innovation, and growing importance in shaping Indias economic future.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 40373 https://knnindia.co.in/news/newsdetails/msme/indias-msme-exports-triple-to-rs-1239-lakh-crore 2024-12-24 16:09:32 knnindia.co.in