New Delhi:
By the year 2025, about 1.2 crore people will be employed in Indian Micro, Small and Medium Enterprises (MSME). Around two lakh new employment opportunities will be created in MSME units in the country during this period. This information has been given in a report released on Thursday.
A report released by global technology and digital talent solutions provider NLB Services says that both urban and rural areas will see new employment opportunities in the services and manufacturing sectors.
NLB Services CEO Sachin Alug said India has 633.9 lakh micro, small and medium enterprises, which provide employment, especially in Tier 2 and Tier 3 cities.
Currently, small scale industry, which accounts for 96 percent of the total industrial units, is the second largest employer in India. MSME sector contributes 33 percent to GDP and contributes 62 percent to total employment in the country.
Alug further said that the contribution of MSMEs to the economy in other emerging countries is 77 percent, which shows that there is still a lot of room for MSME growth in India.
The report said that Karnataka, Andhra Pradesh, Gujarat, Maharashtra, Tamil Nadu and Telangana will create the highest number of new employment opportunities.
24.44 per cent micro, 5.26 per cent small and 2.77 per cent medium enterprises are headed by women. Women-led MSMEs are showing better growth than male-led MSMEs.
He further said that women-led MSMEs can grow by 20 to 25 percent in the next five years. With this, employment opportunities will increase in future.