Dun and Bradstreet India (D&B India) has reinforced its commitment to service the small and medium enterprises of India through the launch of SME Awards 2008. The awards, in conjunction with the publication Emerging SMEs of India 2008, are aimed at felicitating the leading SMEs in ten sectors covered in the publication. Apart from documenting success stories, the publication is an endeavour to provide a platform for SMEs across the country and underscore some of their key achievements, thus highlighting their role in the economy.

India has emerged as one of the fastest growing economies in the world, having clocked an average GDP growth rate of over 9% in the past two years. The Government of India has continuously emphasised the role of SMEs in order to sustain the current high economic growth rate. SMEs provide employment to more than 29 mn people, through 12.8 mn units and contributed more than 15% of India’s GDP in FY07. Moreover, SMEs account for around 95% of the industrial units and contribute around 40% of the country’s industrial output. It is now well accepted that SMEs are stepping stones of entrepreneurship development, innovation and risk taking behaviour and provide the foundation for long term growth, especially in developing countries such as India.

Liberalisation, outsourcing trends, growing demand for exports and pro-SME policies such as the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 have proved conducive for the SME segment. During FY03-07, the overall industrial sector grew at a CAGR of 8.8%, while SMEs grew at around 16.9% in the same period. The scope for SME development is widening, and there is an increasing level of interest displayed by PE investors in this sector. The role of small and medium enterprises has magnified gradually at the global level with SME exports contributing around 33% of India’s total exports.

Emerging SMEs of India 2008 preserves the D&B lineage of providing information and knowledge that facilitate informed business decisions. D&B has drawn on its time-tested expertise in business information to the benefit of the small and medium companies, as this publication adequately reflects.

I hope you will enjoy reading Emerging SMEs of India 2008 and look forward to receiving your suggestions.

Dr Manoj Vaish
President & CEO - India
Dun & Bradstreet