SME Market is worth $ 4 Billion, largest employment generating sector after agriculture
How is SME sector growing in India?
Small and Medium business (SME) have a great market potential and is a major contributor of modern Indian economy. SME business market is alone worth $4 Billion and produce more than 8000 products which should be encouraged to achieve their Goal. Some of the facts shown below about SME’s clearly demonstrate the market potential and development opportunities in these sectors.
- 9 out of 10 Indian industry units are SME
- SME contributes to 40% of total economy and 35% to Indian industrial exports
- Estimated to Grow at 20%
- Many foreign and local investors are looking for investment or mergers in these sectors
- Financial institutions are coming forward to lending credit to these sectors
What are Current Challenges?
- Lack of knowledge, skills required to drive sustained growth
- Benefit of technology and implementing the same to develop quality output is not known
- Unavailability of proper research data which would help them grow
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