Posted on

Taking a cue from China: How India can help SMEs flourish and prosper

Share

Each year there are about five million SMEs more in China representing a 10% year-over-year growth rate, projects database company Statista. Contributing over 60% to the GDP and accounting for 80% of jobs in China, the number of SMEs in the country is estimated to be over 38 million.
Contrast this to the 63 million MSMEs in India which contribute 30% to the country’s GDP and are hailed as the ‘growth engines’ of the economy. Despite the scale, however, the growth and success story of the MSME sector in the country is impeded by several bottlenecks. So, what is the reason behind this gap?
Ravi …

Read More