SMB's (Small and Medium Businesses) a Contributor to India's GDP....
One of the best GDP growth stories in the world currently is that of India. Despite facing economic challenges, India's GDP has been growing steadily over the past few years, with a growth rate of over 6 % in 2023.
One of the key contributors to this growth is the SME sector. Small and medium enterprises (SMEs) in India constitute about 45% of the country's manufacturing output and contribute significantly to the country's GDP. SMEs in India employ over 110 million people and generate employment opportunities in both urban and rural areas.
The Indian government has also recognized the potential of SMEs and has implemented policies to support their growth. Initiatives such as the Make in India campaign and the Credit Guarantee Scheme have empowered SMEs to expand their operations and compete with larger companies in the market.
SMEs in India have also been able to leverage technology to enhance their productivity and efficiency. With the rise of digital platforms, SMEs have been able to reach a wider audience and compete on a global scale.
Overall, the contribution of SMEs to India's GDP growth story is commendable and highlights the crucial role played by these enterprises in developing economies. Acehours is one such Platform Which is working to integrate the Talent available in market with SMB's on fingertips.
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