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from TradeBriefs FMCG Daily Newsletter

Sree Vijaykumar

From the Editor's Desk
Why do we NOT feel the GDP growth in India right now? This article tries to address this question through the MSME story. India has over 45 million MSMEs (micro, small and medium enterprises). Financial data on these are hard to come by, but the RBI recently released financial averages of over 2.3 lakh small enterprises that are registered with the Ministry of Corporate Affairs (there are 15 lakh companies registered overall, only 6000 are listed in the stock markets). What we read about in the media is mostly about these 6000 odd large listed companies. While sales growth in listed firms dropped from 9.1% to 4.7% to 1.4% in the past 3 years, that of SMEs was 13.3%, 8.7% and 12% respectively. Net profits showed an even more contrasting trend, where SMEs showed growth (16%, 23.6%, 12.3%), while listed firms had negative growth (-2%, -5.1%, -0.7%). MSME's contribute 35% of India's GDP and are probably doing some of the heavy lifting right now - Comment

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