In India, according to the Ministry of Micro, Small and Medium Enterprises, SMBs contribute between 8-9% to the GDP and 34% to the total exports of the country. But the real reason why SMBs are more critical is that they have a wider socio-economic impact. On the one hand they push industrial growth and provide employment, and on the other, they effect social transformation and encourage economic self-reliance at the grassroots level.
