India's Growth Engine Revs Up: MSMEs and Startups at the Forefront

NITI Aayog Vice Chairman Suman Bery has underscored the importance of Micro, Small, and Medium Enterprises (MSMEs) being placed in larger supply chains to trigger actual competitiveness and achieve 7-8% economic growth. The integration is important to bring about a further increase in the MSME sector's contribution to the Indian economy. The government is designing policies to enable medium enterprises to become large firms, overcoming the inhibition now about the loss of MSME-specific incentives. In another development, Mercedes-Benz joined hands with the Department for Promotion of Industry and Internal Trade (DPIIT) to assist startups, further accelerating the ecosystem for growth and innovation in India's business environment.

 

Source: PTI News