The agricultural sector has been long considered the backbone of the Indian economy and it still continues to be the largest employer in the country. However, the growth of the modern Indian economy is being powered by its second largest employer, the Micro, Small, and Medium Enterprises (MSME) sector.
MSMEs have become a stalwart in the Indian economic landscape, accounting for 30% of India’s GDP, 45% of exports and employing over 11 crore people.
