MSMEs touch the lives of every citizen of the country whether it is the neighborhood kiranawala going out of the way to deliver groceries at the eleventh hour or the next-door boutique making the favourite dress or even the small factory on the city’s outskirts supplying several components to one's favourite car brand.
To commemorate the integral role small businesses play in everyday lives and in a country's inclusive growth, the United Nations had declared June 27 as the World Micro, Small, and Medium Enterprises (MSMEs) Day.
Needless to say, India’s 63 million MSMEs drive us and the economy to contribute to the livelihood of 111 million workers and to 30 per cent of the country’s GDP.
On this World MSMEs Day, FinancialExpress.com is celebrating the big contribution of small businesses , starting on June 27, 2022, and concluding on June 30, 2022.
The year 2022 is the third year of the Coronavirus pandemic and MSMEs together have shown utmost resilience in dealing with the stress caused by the pandemic-induced lockdowns. They have evolved their processes significantly whether it is adapting to new-age financial products to manage liquidity or digitising their operations.
The MSMEs Day series will highlight the areas that have the potential to offer transformational change in the MSME sector. Spread over four days, it will bring together regulators, MSME associations, small business owners, bankers, and technology service providers to deliberate on policies and solutions for the long-term sustainable growth of the sector.
The event has been conceptualized with five different themes pertinent for the MSME economy to grow and foster.