Economic Survey Highlights Robust Growth in MSME Sector

The Economic Survey 2023-24 indicates robust growth for India, with significant contributions from sectors like micro, small, and medium enterprises (MSMEs). The growth in microfinance is particularly notable, while efforts to skill the workforce and ensure affordable finance for MSMEs are essential.

The Economic Survey 2023-24 underscores a robust growth model for India, highlighting substantial contributions from micro, small, and medium enterprises (MSMEs). According to P Ganesh, Southern Region MSME Co-Chairman of the Confederation of Indian Industry (CII), the growth of the microfinance sector is particularly commendable.

Ganesh noted the encouraging impact of the MSME sector's contribution to the economy. He emphasized the importance of workforce skilling and the necessity for a seamless flow of affordable finance within the MSME segment.

In a statement, Ganesh reiterated the need for a concerted effort to sustain and boost the current growth trajectory. The insights from the Economic Survey serve as a testament to the potential and resilience of the MSME sector in driving India's economic progress.

(With inputs from agencies.)