New Delhi, July 31 -- More than half of the manufacturing and trading Micro, Small and Medium Enterprises (MSMEs) in India have reported an increase in sales during the first quarter of the current financial year, however exporters felt the pinch of tariffs, noted the latest MSME Outlook Survey (MOS) conducted by the Small Industries Development Bank of India (SIDBI).

The third round of the MSME Outlook Survey, covering the period April to June 2025, found that 42 per cent of MSMEs in the services sector also witnessed sales growth, while 48 per cent reported stable sales.

SIDBI report stated, "Over half of manufacturing and trading MSMEs reported sales growth in Q1FY26".

On a year-on-year basis, MSMEs across all sectors said they had ...