About one-third of the country’s GDP is contributed by more than 50 million MSMEs in the country. It is expected that by 2020, India will have the largest job-ready youth population in the world. However, before I get into specifics on the theme of the Summit, let me first present the big picture on why MSME sector needs our support. 3.
In addition, the result of the labor-management wage negotiations held this spring, although tentative, indicates that wage increases for this fiscal year have decelerated only marginally from last fiscal year.