Industry

Related Articles

Sectors

MSME Sector Achievements (2017-18 to 2022-23)


Key Observations:

  1. MSME Units:
    • Declined from 15,468 in 2017-18 to 11,540 in 2020-21, then rebounded to 15,285 in 2021-22.
    • Dramatically surged to 1,39,840 in 2022-23.
  2. Investment:
    • Gradually increased from Rs 1,249.61 crore in 2017-18 to Rs 1,535.09 crore in 2021-22.
    • Spiked to Rs 8,421.63 crore in 2022-23, indicating a significant influx of funds.
  3. Employment:
    • Decreased from 51,244 in 2017-18 to 44,975 in 2020-21, mirroring the drop in MSME units.
    • Rebounded to 56,233 in 2021-22 and surged to 3,00,051 in 2022-23.
  4. Trends:
    • The data suggests a correlation between increased investment and recovery in both the number of MSMEs and employment, especially post-COVID-19.
    • The growth in 2022-23 highlights a potential resurgence in the sector, possibly driven by favorable policies or economic recovery.

Summary:                                                       

The MSME sector experienced a decline during the pandemic but showed strong recovery and growth in 2022-23, marked by a significant increase in units, investment, and employment. Further analysis is needed to understand the driving factors behind this resurgence.