5 Support Pillars by which MSMEs Can Add more to India's GDP.

India has a vibrant MSME (Micro, Small and Medium Enterprises) sector that plays a significant role in the country's economic growth, MSMEs are contributing around 35% to Indian GDP. In recent years, the government has implemented various policies and schemes to leverage the potential of this sector and enhance its contribution to the GDP. If India's GDP has to grow to 10 trillion USD the contribution through MSMEs need to grow by over 2 times from current levels. Here are some ways through which MSMEs can grow in India can contribute more to the GDP:

1. Digital Adoption:

MSMEs in India need to adopt digital technologies to improve their efficiency, reduce costs and increase competitiveness. E-commerce platforms have opened new avenues for MSMEs to reach customers across the country and globally.

2. Access to Finance:

MSMEs require adequate access to finance to invest in technology, upgrade machinery, increase productivity and expand their operations. The government has initiated various schemes, such as the MUDRA Yojana and the Credit Guarantee Fund Trust for Micro and Small Enterprises, to provide collateral-free loans to MSMEs.

3.Skill Development and Skilled People:

MSMEs in India need skilled workers to improve productivity and quality. The government has introduced schemes, such as the Pradhan Mantri Kaushal Vikas Yojana, to provide skill training to the youth and promote entrepreneurship. More people retired from Big corporates need to adopt Handholding the small units through online assignments with the MSME Industry's.

4.Infrastructure Development:

The government has been continuously investing in infrastructure development, such as power, transportation, and telecommunication services, to provide better connectivity and access to markets for MSMEs.

5. Participation in Global Value Chains:

MSMEs in India can participate in global value chains by partnering with large corporations or exporting directly to foreign markets. The government has introduced schemes, such as the Export Promotion Capital Goods scheme and the National Export Insurance Account scheme, to support the export activities of MSMEs. By adopting these measures, MSMEs in India can improve their competitiveness, become more innovative, and contribute significantly to the country's GDP. there are platforms which help MSME Sector to connect with Market Experts help develop global business opportunities. Sector should also use the Opportunities of Bill Discounting and export finance.

By adopting these measures, MSMEs in India can improve their competitiveness, become more innovative, and contribute significantly to the country's GDP. 

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