MSME Sector Contributes Significantly to Indian Economy
(Judicial Quest News Service)
The Micro, Small and Medium Enterprises (MSMEs) Sector contributes significantly to the Indian Economy in terms of Gross Domestic Product (GDP), Exports and Employment generation.
As per the information received from the Central Statistics Office (CSO), Ministry of Statistics & Programme Implementation (MOSPI), the Share of MSME Gross Value Added (GVA) in total GVA during 2016-17 was 31.8%.
As per the information received from Directorate General of Commercial Intelligence and Statistics (DGCIS) the Share of MSME related Products in total Export from India during 2018-19 is 48.10%.
As per 73rd Round of National Sample Survey (NSS), conducted by the Ministry of Statistics & Programme Implementation during the period 2015-16, the estimated number of workers in unincorporated non-agriculture MSMEs in the country are 11.10 crore.
Under the Prime Minister’s Employment Generation Programme (PMEGP,) the estimated employment generated (number of persons) in micro enterprises during the years 2014-15, 2015-16, 2016-17, 2017-18 and 2018-19 are 3.58 lakhs, 3.23 lakhs, 4.08 lakhs, 3.87 lakhs and 5.87 lakhs, respectively.
The Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) was launched by the Government of India to make available collateral-free credit to the micro and small enterprise sector. The number and amount of Guarantees approved under the CGTMSE during the last 2 years is given below:
| Year | No. of Credit Facilities Approved (in lakhs) | Amount of Guarantees Approved (in Rs. crore) |
| 2017-18 | 2.63 | 19065.91 |
| 2018-19 | 4.36 | 30168.57 |
This information was given by Shri Nitin Gadkari, Union Minister for Micro, Small and Medium Enterprisesin written reply to a question in Rajya Sabha today.