The MSME Loan Crisis

The micro, small and medium enterprise (MSME) sector, is the backbone of the Indian economy and brims with raw entrepreneurial dynamism. This sector not only contributes a significant part of our GDP, but is also a huge employment generator. A recent RBI study says that there are 63 mn MSME units in India, employing over 11 crores persons and contribute  to 30 % of our GDP. This sector also contributes to 45% of our manufacturing output and to 40% of our total exports. But then this is the small industries sector and it thus has no voice and no say in policy making and legislation. The MSMEs battle an oppressive environment, where the big business houses rule over them, letting them survive and not thrive. Over 97% of these units work in the informal sector and are India’s response to the dearth of jobs, where the youth venture out on

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