MSMEs being 2nd engine of growth; responsible for 45% of India's exports

Currently, over 1 crore registered MSMEs employing 7.5 crore people and generating 36 per cent of India's manufacturing has positioned India as a global manufacturing hub, the FM stated. The MSMEs are responsible for 45 per cent of India's exports to help them achieve higher efficiencies of scale, technological upgradation, and better access to capital. The investment and turnover limits for classification of all MSMEs will be enhanced to 2.5 times and 2 times respectively. This will generate employment for the country's youth