Internationalisation of Indian MSMEs – The Key to Become a Developed Nation

Abstract

Micro Small and Medium Enterprises (MSMEs) play one of the most important roles in any nation's economic and societal development, especially in developing countries. Around 6.34 crore MSMEs Micro Small and Medium Enterprises (MSMEs) in India are contributing to around 27% of the GDP and 40% of the country’s exports and are generating more than 11 lakhs of employment. Various government initiatives and the Foreign Trade Policy of the country are being designed aiming at enabling the Indian MSME to have an important place in the Global Value Chain. There are also various bottlenecks in this ambitious process of the internationalization of the Indian MSMEs and those challenges are also being addressed regularly. In the era of financial globalization, internationalization is the way to increase the productivity, output, and income of the country.