MSMEs: The Backbone of India’s Economy – Challenges, Opportunities, and Growth Strategies
Introduction Micro, Small, and Medium Enterprises (MSMEs) play a crucial role in India’s economic development, contributing significantly to GDP, employment, exports, and industrial output. Often referred to as the backbone of the Indian economy, MSMEs are instrumental in promoting entrepreneurship, fostering innovation, and supporting inclusive growth. However, despite their contributions, MSMEs face multiple challenges, including…