MSMEs are an inseparable and critical component in India’s economic development, with a potential to contribute significantly to the Government of India’s vision of doubling the Indian economy to USD 5 trillion over the next few years.
However, while Confederation of Indian Industry (CII) is working closely with MSME on several initiatives and interactions at individual as well as cluster-level for their critical requirements pertaining to adoption of digital tools, streamlining financial management, sharing of experience and best manufacturing practices etc.
However, MSMEs face challenges to growth due to lack of resources and timely access to finance, lack of adequate finance continues to remain the biggest challenge for the sector and has constrained its growth.
