MsMEs (Our Small Hands to Make You Large) (Kurukshetra August 2020) (Download PDF)

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MsMEs (Our Small Hands to Make You Large)

MsMEs (Our Small Hands to Make You Large)

Overview

  • Formal & informal MSMEs make up 90 % of all firms, 70 % employment and 50 % world՚s GDP
  • World Bank – 600 million jobs required to absorb global workforce by 2030
  • 65 million firms or 40 % of formal MSMEs have unmet financial need of $ 5.2 trillion/year equivalent to 1.4 times current global MSME lending
  • 6.3 crore MSMEs in India with 99.4 % microenterprise – 45 % manufacturing, 40 % export, 28 % GDP and employ 111 million people
  • Small scale industries include tiny, cottage, traditional, village, MSEs
  • Allocation of US 1 billion dollar in MSMEs
  • When global economy will shrink by 5.2 % in 2020; India՚s GDP will shrink by 3.2 %
  • ₹ 20,000 as subordinate debt for equity support in stressed 2 lakh MSMEs
  • Revised definitions of MSMEs; amendment of financial rules; 3 lakh crore collateral free automatic loans for MSMEs; extension of moratorium on repayment of loans
  • World Bank approved $ 750 million MSME Emergency response program to support MSMEs in Covid-19 crisis
  • E-commerce market is growing at 17 % every financial year
  • Phone subscribers and internet users have increased by 200 million in 2 years
  • Bharat Craft portal by SBI & GoI to market MSME products

- Published/Last Modified on: December 4, 2020

Economy, Agriculture/Agro Industries, Kurukshetra

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