ITC celebrated the annual Micro, Small and Medium-sized Enterprises (MSME) Day, recognizing small businesses around the world for their contributions to their
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Micro, small and medium-sized enterprises (MSMEs), which employ 60% to 70% of workers worldwide and produce 50% of global GDP, were hit hard by COVID-19. They were 2.5 times more likely to go under than larger businesses during the first months of the crisis. And small businesses are less prepared for the impacts of climate change, which could trigger a pandemic-sized shock every decade.
World MSME Day 2022: Micro, Small and Medium Enterprises (MSMEs) are considered to be the backbone of India’s socio economic development. The sector is a key driver of employment growth and considerably contributes to the country’s GDP by manufacturing a wide range of products and services.