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Detailed explanation-1: -What per cent of India’s exports is contributed by MSMEs, approximately? Notes: India has more than 63 million MSMEs. They account for nearly 40 per cent of India’s exports, about 6.11 per cent of the country’s manufacturing GDP. MSMEs contribute to 24.63 per cent of the GDP from services sector.
Detailed explanation-2: -(d): As per the information received from Directorate General of Commercial Intelligence & Statistics, the share of export of specified MSME related products in all India exports during 2021-22 was 45.03%.
Detailed explanation-3: -The Indian MSME Sector The Micro sector includes 630.5 lakh enterprises, accounting for over 99% of the country’s total number of MSMEs. The Small sector includes 3.3 lakh enterprises (0.5% of total MSMEs), while the Medium sector includes 0.05 lakh enterprises (0.01% of total MSMEs).
Detailed explanation-4: -MSMEs contribute almost 8% of the country’s GDP, around 45% of manufacturing production, and about 40% of exports. With this significant contribution, it isn’t an exaggeration to call them the ‘Backbone of the Country. ‘ MSMEs currently employ over 46.6 million people, as per the National Sample Survey (2019).