India, Nov. 16 -- India's economic growth and export economy greatly depends upon its Micro, Small and Medium Enterprises (MSMEs) and the US trade and tariffs particularly the punitive tariffs for buying the Russian oil directly targeted them. In the context of the newly emerging tariff-geopolitics, securing MSMEs is vital to India's national security.

The MSMEs constitute 40 percent of India's total manufacturing capacity, 40 percent of total exports and 120.6 million jobs 11 million of which were created between 2023 and 2024. They are the backbone of the Indian economy with a 27.3 percent contribution to the country's GDP in 2020-21, 29.6 percent in 2021-22 and 30.1 percent in 2022-23. Their contribution to Indian exports has also ris...