MSME Support

MSME Support

India has a large base of 7.9 million registered Micro, Small and Medium Enterprises (MSMEs). The sector contributes around 33% of the country’s total GDP and accounts for around 120 million jobs across industries and regions. These enterprises are further crucial for wealth creation at grassroot level, including women, artisans and other marginalized sections.

According to a Government notification the following criteria applies for classification of micro, small and medium enterprises:

• • Micro Enterprise - investment in Plant and Machinery or Equipment does not exceed Rs one crore and turnover does not exceed Rs five crore;
• • Small Enterprise - investment in Plant and Machinery or Equipment does not exceed Rs ten crore and turnover does not exceed Rs fifty crore rupees;
• • Medium Enterprise - investment in Plant and Machinery or Equipment does not exceed Rs fifty crore and turnover does not exceed Rs two hundred and fifty crore.

Though the MSME sector plays a pivotal role in the economy it faces multiple challenges and obstacles. Some of the key problems are financial & regulatory issues, infrastructure, low productivity, lack of innovation, lack of skilled manpower and competition. In this regard, FWC provides many supporting services and some of them are:

• • Access to formal credit, technology, marketing, skilled manpower, etc.
• • Enable ease of doing business
• • Assist in effective participation of government schemes
• • Special support to women owned enterprises
• • Targeted initiatives for further sub-categories like manufacturers, ancillary units, exporters, service providers, etc.
• • Other similar customized support and services

FWC facilitates the consistent growth of the MSME sector through its tailored support system that plays a crucial role in the country's socio-economic development.