MSMEs

On June 5, 2019, Prime Minister Narendra Modi’s government decided to set up two new cabinet committees – on Investment & Growth and on Employment & Skill Development. The sole aim of these committees is to create jobs.

It is a widely acknowledged fact that Micro, Small and Medium Enterprises (MSME) sector is the largest generator of employment. As per the National Sample Survey (NSS) 73rd round conducted during the period 2015-16 (latest available data in Annual Report of MSME of FY18), MSME sector has generated 11.10 crore jobs (360.41 lakh in Manufacturing, 387.18 lakh in Trade and 362.82 lakh in Other Services and 0.07 lakh in Non-captive Electricity Generation and Transmission) in the rural and the urban areas across the country.