A recent report by CBRE-CREDAI sheds light on the landscape of micro, small, and medium enterprises (MSMEs) in India, revealing noteworthy trends and state-wise contributions. As of December 2023, the country boasts over 3 crore registered MSMEs, with Maharashtra, Tamil Nadu, and Uttar Pradesh jointly constituting nearly 40% of this vibrant sector.
Maharashtra and Tamil Nadu Lead: Maharashtra and Tamil Nadu emerge as pivotal contributors, collectively representing a significant portion of the registered MSMEs in India.
Key Clusters in Uttar Pradesh: Cities like Agra, Kanpur, Varanasi, Lucknow, Meerut, and Ghaziabad have witnessed the robust emergence of MSME clusters, actively participating in the Udyam scheme.
Construction Sector Dynamics: The report emphasizes the strategic opportunity for Indian MSMEs in the construction sector, which contributes approximately 8% to the GDP.
Global Growth Prospects: With the construction sector poised to become the third-largest globally in the next three years, unorganized firms in this domain can significantly benefit by registering under the MSME ambit.
Which three states collectively contribute nearly 40% of registered MSMEs in India, according to the CBRE-CREDAI report?
According to the report, what sector in India’s MSME landscape is poised to become the third-largest globally in the next three years, and what percentage does it contribute to the GDP?
Please provide your answers in the comment section!!
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