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Recognising the critical role of MSMEs and the need to address their financing challenges, it becomes imperative to strengthen India’s financial infrastructure to support MSME lending.
The importance of Micro, Small, and Medium Enterprises (MSMEs) in India’s economy cannot be overstated. These enterprises contribute approximately 30% to the country’s GDP and employ around 110 million people, serving as a vital source of livelihood for millions of families. The growth and success of MSMEs have a ripple effect on various sectors, leading to enhanced productivity, increased exports, and overall socio-economic development.
Currently, there exists a funding deficit of over $565 billion in the small ticket MSME lending segment. Recognising the critical role of MSMEs and the need to address their financing challenges, it becomes imperative to strengthen India’s financial infrastructure to support MSME lending. Let’s discuss some of the focus areas for the growth of MSME lending.
