Are you a businessman seeking the right industrial supplies and equipment? We know the struggle of not having the right tools to excel in your business. Investing in the correct type of equipment can help your company prolong its operations, too.  So, with the increasing demand for quality goods, many companies are crafting their industrial supplies, which might not meet your requirements. 

MSMEs are the backbone of the Indian economy, contributing hugely to our country's economic growth. Today, this sector has emerged as the key driver of innovation, growth, and employment, even in less developed areas in India.  In today's article, you will learn about the growth and prospects of MSME industries in India. 

The world of startups has been booming since 2016, and it has never been. According to 2022 reports from the Department for Promotion of Industry and Internal Trade (DPIIT), about 26 thousand startups existed. As of February 2023, the number of startups in India is 92,683. And there are 633.9 lakh MSMEs in India. 

The MSMEs are well-known for contributing to the country's economy through various manufacturing and industrial expansions. Despite the multiple challenges, this sector plays a crucial role in the GDP, job creation, and employment.