•  What needs to be done for making the credit delivery system for farmers more efficient in terms of timeliness? Micro, Small and Medium Enterprises (MSME) 20. MSMEs play a vital role in the Indian economy. They not only employ a large number of unskilled and semi-skilled people but also support large industries by supplying raw material, basic goods, finished parts and components.
There are an estimated 49 million MSMEs in the country, providing employment to 111 million people which is next only to the agricultural sector. The sector accounts for 45 per cent of the manufacturing output and contributes close to 40 per cent of all exports from the country.