MSME contribution to GDP increases

The contribution of Micro and Small Enterprises (MSEs) to GDP and total industrial production was estimated to be 8.72 percent and 44.86 percent respectively during the year 2008-09, as per the Union Cabinet Minister for Micro, Small and Medium Enterprises (MSME), Virbhadra Singh, having quoted in Rajya Sabha yesterday.

The source of the figure is data of Gross Domestic Product (GDP) published by Central Statistical Office.

The Minister in a statement said that the estimated contribution of MSMEs in total exports of the country for the year 2007-08 (latest available), based on data obtained from Export Promotion Councils, was 30.80 percent.

Enterprise-wise data collected on Micro, Small and Medium Enterprises (MSMEs) during the 4th All India Census of MSMEs: 2006-07 indicate that out of 15.64 lakh registered enterprises, entrepreneurs belonging to Other Backward Classes owned 5.99 lakh enterprises (38.28 percent) while Scheduled Castes and Scheduled Tribes entrepreneurs owned 1.19 lakh(7.6 percent) and 0.45 lakh (2.87 percent) enterprises respectively.

The socially backward classes of the society together owned 48.75 percent of the MSMEs. The women entrepreneurs also owned 2.15 lakh enterprises (13.72 percent). The above data suggests that the MSME growth is inclusive, said press statement.