When examining the contributions of different sectors of the economy, one cannot overlook the

important role played by Small and Medium Enterprises (SMEs) and Micro, Small, and Medium

Enterprises (MSMEs). These enterprises are considered major drivers of economic growth, as they

contribute significantly to national income and play a crucial role in generating employment

opportunities for millions of people worldwide. According to a World Bank estimate [1], approximately

90% of businesses and more than 50% of employment worldwide are associated with SMEs.

In the context of Asia, MSMEs are particularly noteworthy, constituting about 97% of all enterprises

and 69% of the national labor force [2]. On average, these enterprises contribute about 41% to the

GDP of their respective countries.

Dr. Amit Kapoor served as the chief expert of the research project. The project was published in Japan by Asian Productivity Organization in October 2023.

The complete report can be downloaded from https://www.apo-tokyo.org/publications/sme-transformation-for-meeting-the-sdgs-in-asia/

© 2024 Institute for Competitiveness, India


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