New Delhi, Feb. 12 -- The Micro, Small and Medium Enterprises (MSME) sector has strengthened its role as a key pillar of India's economy, with its share in the country's Gross Value Added (GVA) rising to 30.1 percent in 2022-23, said Soumya Kanti Ghosh, Group Chief Economic Advisor, State Bank of India (SBI), and Member, Prime Minister's Economic Advisory Council (EAC-PM).

Speaking at the India SME Finance and Summit, Ghosh said the steady rise from 27.3 percent in 2021 underscores the sector's resilience and expanding contribution to domestic economic activity, reported ANI.

He highlighted that MSME integration into global trade has also deepened, with MSME-related products accounting for 45.79 percent of India's total exports in 2024-...