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India

In: G20 Entrepreneurship Services Report

Author

Listed:
  • Jian Gao

    (Tsinghua University)

  • Ruitao Jia

    (Tsinghua University)

  • Qing Su

    (Tsinghua University)

Abstract

There are approximately 42.5 million small and medium-sized enterprises (SMEs) in India, accounting for 95% of all Indian firms. These SMEs hire 40% of the total labor force, about 160 million employees. Although almost all G20 member states have dedicated government departments responsible for SMEs, only India includes micro-enterprises in the name of its specialized government agency. The Ministry of Micro, Small and Medium Enterprises (MSME) was established under the Micro, Small and Medium Enterprises Development (MSMED) Act 2006. The ministry’s Office of Development Commissioner is committed to providing services such as entrepreneurship trainings, technical and management consulting, etc. Besides, the ministry has a system called the Centralized Public Grievance Redress and Monitoring System (CPGRAMS), which monitors the service quality of government institutions to MSMEs. Apart from the establishment of reliable institutions and systems, the Indian government initiated the “Start Up India” program to enhance the sustainable development of the Indian economy by championing innovation and entrepreneurship.

Suggested Citation

  • Jian Gao & Ruitao Jia & Qing Su, 2022. "India," Springer Books, in: G20 Entrepreneurship Services Report, pages 151-158, Springer.
    • Handle: RePEc:spr:sprchp:978-981-16-6787-9_10
    DOI: 10.1007/978-981-16-6787-9_10
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