What is the status of SMEs in India?

Or Indian economy has been growing at a faster pace. Have you ever thought about how and why? No doubt, many factors are responsible for the growth of our national economy but it is evident that the rise in Small and Medium Enterprises in India has improved it to a greater extent. These enterprises put a great contribution to the development of large and big enterprises.

There exist multiple business sectors in the list of sme companies in India. The business directories are the prior place where these businesses find the path for global level success. On the basis of the rate of growth of companies, we are going to discuss briefly a list of sme companies.

Foods and Beverages

The foremost small and medium enterprise trade in India is foods and beverages that have gained quality appreciations for the past 3-4 years. The whole credit goes to the dynamic fashion along with the feeding habits of the common people.

IT Industry

Next comes the information and technology sector of India which is predicted to extend by a good growth rate in just one year. It is a highly demanding industry as compared to those mentioned in the list of sme companies. Directly, indirectly everyone has engaged in the IT industry after digital transformation.

Health trade

There exist a far difference in the tending prices in India and western countries when we talk about the health trade sector. Our country is experiencing good growth in business as shown by the analysis in 2012 and 2017.

Textile trade

The textile trade is a globally supposed b2b sector in India. The total textile exports from India put around 27% contribution to the overall exchange. Cotton, jute, silk, hand-loomed, woollen, and readymade textiles are the vital segments in an expansion of the international and Indian exchange.

Construction trade

Considering and calculating India’s GDP, around 11% of India's total GDP helps the construction trade due to assorted raw materials. During this class, the cement trade is an important contributor to the economy.

Handicrafts

Indian handicrafts are something unique that relish a good demand, especially within the foreign markets. People in the USA, UK and Australia buy these handicrafts to decorate their living spaces. Jewellery, Picket handicrafts, handwritten textiles are the most liked segments that help in rising our Indian economy.

Banking and Insurance

Money Investment, banking, credit cards, mortgage and insurance products are some of the vital segments which put a great contribution towards the growth of the banking and insurance sector in India. It is considered one of the crucial sectors of Small and Medium Enterprises in India success.

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