Indinese Global: The Global Help For MSMEs

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Indinese Global: The Global Help For MSMEs

Micro, Small and Medium Enterprises (MSMEs) play a significant role in the global economy and particularly in our country where MSMEs constitute nearly 94 percent of the industrial enterprises in the economy. The sector contributes 36 percent of the total value of exports of the country and employs over 80 million people. The contribution of the MSME sector to the output of India is 40 percent and to the GDP is over 8 percent. In order to stay on this growth trajectory, MSMEs need to look into some serious parameters that have been of concern lately. Procurement and global sourcing are either the most underrated or misunderstood factor considered by MSME companies due to lack of right skill in market. Material purchasing is still managed by typically owner or director in the MSME...