Micro, Small and Medium Enterprises (MSME) sector is the most vibrant and dynamic sector promising high growth potential for the Indian economy. There are close to 51 million MSME units in the country that employ about 117 million people across various sectors, constituting 40% of the workforce. The MSME share to the total Gross Domestic Product (GDP) is about 37% and they also contribute to 43% of exports based on the data maintained by Ministry of Commerce. In view of the critical nature of this segment, careful monitoring of the health of MSME portfolios regularly and frequently is vital for tracking the efficacy of policy, banking and business decisions while ensuring timely intervention for controlling potential losses.
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