New Delhi, May 26 (HS): The NITI Aayog released a report on policies for medium enterprises, highlighting their potential as growth engines for India's economy. It notes that these enterprises contribute approximately 40% of MSME exports, revealing significant untapped potential. The report, introduced by NITI Aayog Vice Chairman Suman Bery and members Dr. V.K. Saraswat and Dr. Arvind Virmani, emphasizes the crucial but underutilized role of medium enterprises and proposes targeted interventions to maximize their capabilities. The commission advocates for enhanced financial solutions, technology adoption, and a centralized digital platform to facilitate transformation in the sector. The report discusses structural issues within the MSME sector, which contributes about 29% to India's GDP and employs over 60% of the workforce. Notably, only 0.3% of registered MSMEs are medium enterprises, yet they play a significant role in exports. The report emphasizes the necessity for inclusive policy design and collaborative governance to support these entities, identifying key challenges such as limited access to financial products, technology, R&D support, and inadequate training alignment. By addressing these barriers, medium enterprises could become pivotal in India's pursuit of self-reliance and global competitiveness by 2047, affirming their status as strategic players in the economy.

Hindusthan Samachar / Jun Sarkar