Micro, Small and Medium Enterprises plays a key role in developing countries. These firms typically account for more than 90% of all firms outside the agricultural sector, constitute a major source of employment and generate significant domestic and export earnings. As such, SME development emerges as a key instrument in poverty reduction efforts.
India is no exception and a large part of business in the country is done through SMEs. Today, it accounts for nearly 35% of the gross value of output in the manufacturing sector and over 40% of the total exports from the country. The sector's contribution to employment is next only to agriculture in India. It is therefore an excellent sector of economy for investment.
However, despite its strategic importance in any industrialization strategy, the opportunities that the Indian landscape presents and its immense potential for employment generation, the MSME sector confronts several challenges. Absence of adequate and timely banking finance, limited capital and knowledge, non-availability of suitable technology, low production capacity, ineffective marketing strategy are just a few to name. Profilelens endeavor to provide an objective assessment of MSME with regard to their performance capability and financial strength is helping MSME establish their credibility and thus access adequate and timely financing at affordable rate.