RBI described MSMEs as India's "nursery of entrepreneurship

RBI described MSMEs as India's "nursery of entrepreneurship

¨     Reserve Bank of India (RBI) described Micro, Small and Medium Enterprises (MSMEs) as India's "entrepreneurship nursery."

¨     Sanjay Malhotra, Governor of the RBI, highlighted improved credit flow and formalisation of MSMEs as key policy priorities.

¨     The RBI also observed a dedicated MSME Awareness Week in June 2026 to promote MSME schemes and regulatory initiatives.

¨     MSMEs in India are registered through the Udyam Portal and Udyam Assist Platform.

¨     As of March 2026, more than 7.9 crore MSMEs and informal micro-enterprises had registered on these platforms.

¨     Udyam is the official registration portal for MSMEs in India.

¨     Udyam Assist helps informal micro-enterprises become part of the formal economy.

¨     According to 2026 government data, the MSME sector contributed 31.1% of India's Gross Domestic Product (GDP).

¨     The sector accounted for 48.58% of India's exports.

¨     MSMEs contributed 35.4% of the country's manufacturing output.

¨     The sector supported approximately 32.8 crore people through enterprise activity and employment generation.

¨     MSMEs play a vital role in entrepreneurship, industrial development, exports, employment generation, and inclusive economic growth in India.