MSMEs are driving India’s workforce: Report

Micro, Small, and Medium Enterprises (MSMEs) are transforming India’s employment landscape by creating a significant number of jobs in tier II and III cities. Currently, 49 million MSMEs are registered under the Udyam portal, employing more than 210 million people, making them critical contributors to India’s workforce. A report by KPMG and TiE Bangalore, released on Tuesday, highlights that this number could grow in the coming years due to improving physical infrastructure, such as better roads, airports, and digital connectivity, which are turning these smaller cities into thriving business hubs.