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In India, Small Industries & Businesses are termed as the backbone of the country's economy. It is these units which act as robust pillars at the grassroots in providing support to the nation's economy. Besides, being low-budget, high-productivity units, these also employ the greater number which in turn helps bring down pressure on other sectors.

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In India, Small Industries & Businesses are termed as the backbone of the country's economy. It is these units which act as robust pillars at the grassroots in providing support to the nation's economy. Besides, being low-budget, high-productivity units, these also employ the greater number which in turn helps bring down pressure on other sectors.

The Union Budget has been declared, raising hopes and expectations for some industries, while others battle it out to put behind the year and look from a fresh business perspective. The MSMEs industry has been hit hard owing to the nationwide lockdown situation as the global supply chain was disturbed due to the COVID crisis.

Hey, I am Rohit Singh, passionate about finance management for Stratups. I worked from last 10 years in finance department, now I want to share my experience.

Micro, Small and Medium Enterprises (MSME) have become one of the most significant sectors in the Indian economy lately and for all the good reasons. Its contribution to the country's Gross Domestic Product has been significantly higher than others and it stands at around 6 per cent. Besides, the sector accounts for 33 per cent of the merchandise exports. This is the reason why this sector is often called as the growth engine of the Indian economy.