The MSMEs have been affected internally and externally, hindering their growth and sustainability in the country. There are many problems faced by the MSME sector in India despite their potential to become a major contributor to the development of our economy. It can be due to adequate technologies, market exposure, expertise, etc. 

The SMEs are known for contributing to our economy and are considered the backbone. SMEs have contributed about 30% of India's GDP, 45% of manufacturing output, and 48% of its exports. So, to support and develop these enterprises, the Government of India have developed a scheme called the Micro, Small, Macro, Enterprises Development (MSMED) Act. It provides various benefits and incentives to SMEs registered under this act. 

Are you confused about the difference between a Startup and MSMEs? Well, you have come to the right place!  We will help you to get a clear and concise idea about the difference between these two. Understandably, many need clarification on these two terms and their nature.  So, to understand the difference better, let's delve into the distinctive nature of startups and MSMEs to gain a comprehensive understanding.

You might assume that small and medium-sized industries have little or no role in India's economic growth. However, that's far from it. The MSME industries play a pivotal role in the country's economic development.