Economic Survey 2024: Share of MSMEs in Manufacturing Output Stands at 35.4 Per Cent

The Economic Survey 2023-24 underscores the vital role of the MSME sector in India's economy, noting a 35.4% contribution to manufacturing output. Key findings include increased productivity with higher Gross Value Added and output per worker and establishment. The Udyam Registration portal has facilitated 4.69 crore MSME registrations. The survey also highlights significant financial support with ₹9,000 crore allocated to the Credit Guarantee Fund and ₹1.97 lakh crore in Production Linked Incentive (PLI) schemes. It reports notable growth in exports and investments, with initiatives like “Unity Malls” and “PM-Ekta Malls” enhancing market reach and visibility for local products.