As per the recent GOI report by the Ministry of Micro, Small, and Medium Enterprises, MSMEs contributed to 30.27% of All India GDP in FY 2019-20.
In the Union Budget 2021, the Government announced Funds worth INR 10,000 Crores (US $1.36 billion) for the Guarantee Emergency Credit Line (GECL) facility to eligible MSME Borrowers giving a significant boost to the sector.
According to CII and EY report, India can attract foreign direct investments (FDI) of US$ 120-160 billion per year by 2025. Over the past 10 years, the country witnessed a 6.8% rise in GDP, with FDI increasing to GDP at 1.8%.
World Bank announced a US $750 million budget support to 15 crore MSMEs to increase liquidity access for viable small businesses impacted by COVID-19.
Employing over 11 crore workers, MSMEs contribute 29% of India’s GDP and comprise almost half of its exports. While there are about 90.19 lakh registered MSMEs, there may be more than 6.33 crore MSMEs out of which 6.30 crore or 99.4% are micro-enterprises while 0.52% — 3.31 lakh are medium and 0.007% — 5,000 are medium enterprises.
Indian MSMEs are known for producing better-quality products. A robust credit provisioning with more straightforward compliance frameworks backed by technology, upgrades will succeed in #rebootinginda.
MVW-MSME Development Centre, a Division of MVW Network International Pvt. Ltd is a professional organization that aims to provide the right opportunities and empower and eligible MSME businesses.
1. The Development Centre shall undertake strategic initiatives to inform, consult, mentor, and provide timely assistance for the growth of its Subscribers.
2. The primary mission of the Development Centre is to enable innovation, adopt global best practices, accelerate skill development, and boost overall business efficiency to become globally competitive and investment-ready.
3. The Development Centre shall work in line with the vision of GOI to support MSMEs in India by the intervention of Subject Matter Experts towards Ease of Doing Business.
4. Currently Maharashtra, Tamil Nadu, Bihar, Uttar Pradesh, and Madhya Pradesh account for 60% of the total registered MSMEs in India. The Development Centre will spread its wings to pan-Indian states across the length and breadth of the country.
5. The Development Centre is backed by industry leaders and professionals from different industries, thereby being able to cater to the varied needs of an MSME regarding production, finance, supply-chain, joint venture, mergers, raising capital, etc.
1. Mentor the Indian MSMEs.
2. Enable MSMEs to become globally competitive.
3. Transfer Knowledge on newer technologies for growth
4. Exemplify corporate best practices.
5. Become a catalyst in GOI’s Vision in Ease of Doing Business.
6. Influence and communicate with over 10K Indian MSMEs.
7. Explore Multi-industries strategic business inputs.
8. Leverage association with MBFI across 28 Indian States
9. Communicate in over 20 Indian Languages.
10. Women Entrepreneurial Handholding and Training
11. Communicate and engage with media across all India States.
12. Communicate and engage with media across 125 countries.
13. Opportunities for Joint-Ventures or Mergers
14. Opportunities to raise capital from domestics or international.
15. Customized services in line with the requirement.