The micro, small, and medium enterprises (MSME) sector forms the backbone of our economy. To achieve our vision of an Aatmanirbhar Bharat or self-reliant India, India’s six crore-plus MSMEs
will play a critical role. The sector contributes about 30% to India’s GDP, almost 50% to our exports, and employs more than one crore people. It has emerged as a highly vibrant and dynamic sector, fostering entrepreneurship and generating employment opportunities in both rural and urban areas at comparatively low capital costs, next only to agriculture.
To help the sector realize its true potential and optimize its contribution to the economy, exports, and employment generation, we need to not only encourage manufacturing and entrepreneurship, but also clear the pathway for MSMEs to expand internationally. Indian MSMEs are uniquely positioned to further integrate themselves into global supply chains and diversify our export portfolio. E-commerce exports offers them an unprecedented opportunity in this regard. The rapid adoption of cross-border e-commerce has made it significantly easier for MSMEs to export and is enabling them to showcase products such as handicrafts, jewellery
, home, toys
, etc., to the world.