According to market research firm Zinnov, India which is home to about 4.88 crore small and medium business (SMB) units is all set to become the largest SME nation globally as the Indian SME market is growing at 4.53 per cent CAGR.
According to market research firm Zinnov, India which is home to about 4.88 crore small and medium business (SMB) units is all set to become the largest SME nation globally as the Indian SME market is growing at 4.53 per cent CAGR.
As per a report carried out by the firm, the SME sector in India, which is all set to become the largest SME nation globally, has given employment to around 8.11 crore people which has increased at a CAGR of 5.29 per cent.
Indian SME space today is largely dominated by micro scale businesses, contributing 95 per cent of the SME landscape, followed by small scale businesses contributing 4.8 per cent and the rest 0.2 per cent by medium scale businesses.
The report further noted that out of the 4.88 crore SMEs around 55 per cent are located in urban areas while the rest 45 per cent constitutes to the rural regions.
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