The world celebrated International MSME Day 2024 on June 27 with the theme of MSMEs and the SDGs.
Key points
- The United Nations General Assembly designated 27 June as “Micro-, Small, and Medium-sized Enterprises Day” to raise awareness of the tremendous contributions of MSMEs to the achievement of the United Nations Sustainable Development Goals (SDGs).
- MSMEs account for 90% of businesses, 60 to 70% of employment and 50% of GDP worldwide.
- The UN stats reveal that MSMEs play a significant role in the growth of an economy. It connects budding entrepreneurs on a local and national level and offers opportunities to people like youth, working class, women and others to generate income.
- According to the annual report of the Union MSME Ministry’s FY 23, there are more than 63 million MSMEs in India, a number which places the nation only behind China which has 140 million micro and small enterprises.
- These MSMEs contribute 30 per cent of India’s GDP and 40 per cent to exports and have created over 110 million jobs across the country.
