The government has set a target for India to become a US$ 5 trillion economy by FY25. In this they have envisaged that the MSMEs will contribute 50% of GDP; the current contribution is 30%. To achieve this, MSMEs will have to contribute 75% of the incremental GDP between FY19 and FY25. This offers an immense growth potential for the MSMEs and to realize this, they should be provided an enabling eco-system to accelerate their growth. D&B has been engaged with MSMEs over the years. Through our various interactions with MSMEs, three growth accelerators emerged as the key to their success. Access to finance emerged as the single largest accelerator for growth followed by cluster development and access to markets.
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