Section Article

The Significance of Micro Small and Medium Enterprises (MSMEs) in Indias System of Generating Wealth
Author(s): Dr. Pushpraj Tripathi

Abstract
Micro Small and Medium Enterprises (MSMEs) have a crucial impact on Indias economy making a substantial contribution to the generation of wealth employment and fostering inclusive development. MSMEs which account for more than 95% of all businesses in India play a vital role in promoting innovation entrepreneurship and regional growth. Not only do they provide a significant number of job possibilities but they also make a large contribution to the Gross Domestic Product (GDP) and the revenues from exports. This sector plays a crucial role in supporting major industries via supply chains and providing essential services to many sectors serving as a foundation for the overall economic structure. The prosperity and long-term viability of micro small and medium enterprises (MSMEs) are crucial for mitigating economic inequalities and fostering equitable development across diverse geographical areas. Government policies and efforts that focus on improving the competitiveness and financial stability of micro small and medium enterprises (MSMEs) are crucial in unlocking their whole potential and guaranteeing their ongoing contribution to Indias economic growth.