Government of Madhya Pradesh
Department of Micro, Small and Medium Enterprises
M.P. MSME Development Policy, 2019
Preamble:
MSMEs are the mainstay of Indian Economy. They contribute to around 95% of the enterprises of the country and make up to about 30% of the overall GDP. Around 20% of the MSMEs are based out of rural areas and consequently are a major source of employing rural workforce. In the last two years, Industries faced challenges consequent upon demonetisation and introduction of GST. While cash crunch characterised the FY 2016-17, lack of access to credit, fall in the value of rupee and increased compliance costs for switching over to the GST regime were the miseries for the sector in FY 2017-18 and 2018-19. The year 2019 is likely to be a favourable year for Micro, Small and Medium enterprises(MSME).