India

Jian Gao (), Ruitao Jia () and Qing Su ()
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Jian Gao: Tsinghua University
Ruitao Jia: Tsinghua University
Qing Su: Tsinghua University

A chapter in G20 Entrepreneurship Services Report, 2022, pp 151-158 from Springer

Abstract: Abstract There are approximately 42.5 million small and medium-sized enterprises (SMEs) in India, accounting for 95% of all Indian firms. These SMEs hire 40% of the total labor force, about 160 million employees. Although almost all G20 member states have dedicated government departments responsible for SMEs, only India includes micro-enterprises in the name of its specialized government agency. The Ministry of Micro, Small and Medium Enterprises (MSME) was established under the Micro, Small and Medium Enterprises Development (MSMED) Act 2006. The ministry’s Office of Development Commissioner is committed to providing services such as entrepreneurship trainings, technical and management consulting, etc. Besides, the ministry has a system called the Centralized Public Grievance Redress and Monitoring System (CPGRAMS), which monitors the service quality of government institutions to MSMEs. Apart from the establishment of reliable institutions and systems, the Indian government initiated the “Start Up India” program to enhance the sustainable development of the Indian economy by championing innovation and entrepreneurship.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-16-6787-9_10

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DOI: 10.1007/978-981-16-6787-9_10

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