Paper Contents
Abstract
Micro, Small, and Medium Enterprises (MSMEs) have long been recognized as the backbone of the Indian economy. Over the decade from 2014 to 2024, the MSME sector has played a pivotal role in fostering economic growth, generating employment, and promoting equitable income distribution. With the governments focused initiatives, technological advancements, and increased entrepreneurial activities, MSMEs have emerged as a key driver of socio-economic development. However, the sector also faces persistent challenges such as access to finance, technological adoption, and regulatory hurdles. This paper examines the contribution of the MSME sector to income and employment in India during 20142024, based solely on credible academic and policy sources. The study revealed that MSMEs have maintained a stable contribution to Indias GDP in the study period averaging around 2930% over the decade. The sector has also generated employment of about 11 crores in 2014 which further increased to over 20 crores in 2024. as far as exports are concerned there was decline after 2016 due to demonetization and GST.
Copyright
Copyright © 2025 Rahul Saxena. This is an open access article distributed under the Creative Commons Attribution License.
