Indian MSMEs aren’t new to adversities. Their zeal to emerge victorious every time a challenge erupts has been tested repeatedly. Amid interest rate hikes, China’s economic slowdown, the covid-led global supply chain crisis, and the ongoing Russia-Ukraine conflict, an opportunity has arisen for India’s MSMEs to carve their name on the global trade map.
India’s economy currently stands at nearly $3.5 trillion, making it the world’s fifth largest. The Centre for Economics and Business Research estimates India’s annual GDP growth will average 6.4% for the next five years, then rise 6.5% in the following nine years.
The world is now looking at India as a hot investment destination, especially in manufacturing and production–the twin pillars for trade and trade-related growth. Moreover, The International Monetary Fund’s Deputy Managing Director Gita Gopinath, at the World Economic Forum, said that countries looking to diversify their…
