These are no ordinary figures.
These are courtesy the Micro, Small & Medium Enterprises (MSME) sector, aptly called the ‘Backbone of the Indian economy’.
Despite such stellar and consistent contribution, India’s privately-owned and nurtured MSME companies have not been celebrated and feted enough.
A blend of new and mature companies, Indian MSMEs boast of a diverse and dynamic set of entrepreneurs who are breaking new boundaries every day. In a volatile and slightly-uncertain economic climate, it becomes important, and imperative, to find businesses that drive growth, innovation and job creation.
And ETRISE’s Top MSMEs Ranking continues the quest to honour and celebrate the success of home-grown MSMEs. An Economic Times Digital initiative powered by the ETRISE Editorial Team, the programme aims to recognise small businesses that have excelled and raised the bar high.
ETRISE, India’s largest platform for the MSME eco-system, is a one-stop-shop for news coverage on entrepreneurship, small business management, and business opportunities. The go-to place for the small business community, it has made life easy for many by showcasing simple ways to help grow their business.
ETRISE now intends to discover and chronicle businesses that are creating a new and lasting template for success.
The nationwide search to find India’s best is open to any business if it qualifies as a Micro, Small, or Medium Enterprise, as specified by the Ministry of MSME, Government of India.
Under the MSME Development (Amendment) Bill, 2018, the definition of an MSME is based on the annual turnover and is as follows. This is agnostic of the sector and business type. For the purpose of the ranking, classification of each would be as under:
- Micro Enterprise: Less than Rs 5 crore
- Small Enterprise: Rs 5 crore to Rs 75 crore
- Medium Enterprise: Rs 75 crore to Rs 250 crore
Micro enterprises can only nominate themselves for ‘India’s Top Innovative Businesses’, while Small and Medium Enterprises can participate in ‘India’s Fastest Growing Business’ and ‘India’s Top Performing Businesses’.
For Fastest Growing and Top Performing, the key evaluation parameters would include ‘Financial Growth’ and ‘Financial Health’ based on financial documents.
Reflecting the entrepreneurial drive seen across the country, the ranking intends to honour both innovation and excellence. From manufacturing matchbox to precision engineering, no business is too small to take part.
To register and participate in the programme, please click here. There is no participation fee for the programme.