The MSME sector is the second largest employment generating sector after agriculture which provides employment to about 120 million individuals in India. Micro, Small, and Medium Enterprises (MSMEs) form the backbone of India’s economy, playing a crucial role in economic development, employment generation, and industrial growth. As per the Ministry of Micro, Small, and Medium Enterprises, Average annual turnover for these businesses range from 5 to 250 Crore and they contribute nearly 30% to India’s GDP.

MSMEs have established themselves in the market and have survived the hardest of times owing to limited access to capital, technological and digital gaps, regulatory compliance etc. Yet with increasing digital transformation, government initiatives, and access to global markets, MSMEs growth in India is showing a steady graph. Initiatives like ‘Make in India’, ‘Vocal for Local’, and ‘Atmanirbhar Bharat’ also aim to strengthen domestic MSMEs. The Indian government too has taken a keen interest to boost the MSME wave by introducing various schemes like Udyam Registration, Credit Guarantee Fund Scheme (CGTMSE), Prime Minister’s Employment Generation Programme (PMEGP), Mudra Loans, etc.

Indian Achiever’s Forum aims to recognize them and award them with the Udyog Bharati Award. Organizations, Companies and MSMEs with more than 7-8 years of contribution to the industry are eligible for this award. acknowledging, encouraging, and celebrating the outstanding contributions of MSMEs, organizations, and companies that have made a significant impact. The prestigious Udyog Bharati Award is presented to enterprises with a proven track record of 7-8 years in their respective sectors, recognizing their contribution to India’s socio-economic progress. The Udyog Bharati Award intends to identify and strengthen the MSME’s role in the economic development of the country and shall act as a catalyst for nation-building. Indian Achiever’s Forum also creates platforms to raise awareness and support MSMEs and start-ups’ efforts on quality, environment and consumer protection.