NITI Aayog Releases Report on Enhancing MSME Competitiveness in India
| Aspect | Details |
|---|---|
| Report Title | Enhancing Competitiveness of MSMEs in India |
| Released By | NITI Aayog in collaboration with the Institute for Competitiveness (IFC) |
| Focus | Micro, Small, and Medium Enterprises (MSMEs) |
| Key Challenges Addressed | Financing, skill development, technology adoption, market access |
| Primary Goal | Enhance MSME competitiveness for economic growth and global integration |
| Access to Credit | Increase in formal credit access (micro & small: 14% to 20%; medium: 4% to 9%)Significant credit gap remains (only 19% demand met)Recommends revamping CGTMSE for scalable finance |
| Skill Development | Address skill shortagesNeed for enhanced training in R&D and innovation |
| Technology Adoption | Challenges: unreliable electricity, weak internet, high costsRecommendations: Promote digital tools, modern tech access, R&D investments |
| Market Access | Improve global market access through digital marketing training, logistics partnerships, and market linkagesFocus on northeastern and eastern regions |
| Policy Framework | Suggest state-level, cluster-based policy framework for innovation and competitiveness |