Independent Research and Policy Advocacy

The case for a unique business identifier for Indian MSMEs

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Abstract

The United Nations General Assembly has designated June 27 as the MSME day to raise public awareness of the contribution of micro, small and medium enterprises to sustainable development and the global economy.

Indeed, MSMEs form an important part of our economy. They contribute about 30 percent of our nation’s output and provide employment to more than 110 million people. But despite their importance, the MSME sector is constrained for growth due to various issues such as lack of access to finance, the informal nature of the sector and severe information asymmetry problems.

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