MSSIDC collaborates with India SME Forum to drive growth in Maharashtra

MSMEs in Maharashtra come in first place with close to 3.8 lakh (presumably the highest in India), predominantly in the states service sector, than those in the manufacturing industry. Mainly because Mumbai is the financial capital hub and is home to Reserve Bank of India and Bombay Stock Exchange. 

The service sector in Maharashtra includes banking and financial services, insurance, transport, communication, and business process outsourcing, real estate, hotels and tourism, healthcare, retail and wholesale trade, and education. The state also has a growing IT industry, with many software companies based in cities like Pune and Nagpur.

There is no denying that MSMEs in Maharashtra play a significant role in shaping the economy, contributing significantly to its culture. Known for Warli paintings and Paithani sarees, MSMEs in Maharashtra, play an important role in preserving the state’s traditional art forms, crafts, and textiles boosting its cultural identity and heritage. Its rich heritage Paithani sarees are its legacy, Yeola is the leading producer of this beautiful craft, with over 6,500 looms functioning in the taluka. These exquisite sarees can range in price from Rs 7,000 to Rs 20 lakh.

Driving the growth MSSIDC is moving forward and forward rightfully with a view to give new orientation to the sector. In a landmark collaboration of its sort Maharashtra Small Scale Industries Development Corporation and India SME Forum shall seek to engage in the capacity building training programmes for MSMEs, which are not just confined to Pune and Mumbai but to the likes of Baramati,Talgaol,Saswad to name a few. This however doesn’t refute the fact that 41 percent of the over 36 lakh Micro, Small, and Medium Enterprises in Maharashtra are operational in the Mumbai and Pune regions.

Delving further into the numbers, the state has reported considerable achievements with a substantial 41 percent of 14,97,959 units of the over 36 lakh Micro, Small, and Medium Enterprises (MSMEs) in Maharashtra, are currently operational in the Mumbai and Pune regions. This concentration leaves the rest of the state grappling with a lack of economic activity in the MSME sector.