India, June 27 -- June 27 is MSME Day. It is a day dedicated to celebrating the significance and achievements of Micro, Small and Medium Enterprises (MSMEs). In 2017, the United Nations (UN) designated this day to recognise the vital role of MSMEs in promoting innovation, job creation, and sustainable economic growth. MSME Day highlights the need for ongoing support and innovation to help these enterprises thrive in a changing global environment.

The UN estimates indicate that MSMEs are the cornerstone of economic growth worldwide, accounting for 90 per cent of global businesses, 60-70 per cent of employment and 50 per cent of the world's gross domestic product (GDP).

The World Bank notes that 60 crore jobs will be needed by 2030 to abs...