GOVERNMENT OF INDIA MINISTRY OF MICRO, SMALL AND MEDIUM ENTERPRISES MSME-DEVELOPMENT INSTITUTE, CUTTACK PREPARED BY MSME - DEVELOPMENT INSTITUTE, VIKASH SADAN, COLLEGE SQUARE, CUTTACK-753003 (ODISHA) E-Mail:
[email protected] Website: www.msmedicuttack.gov.in ODISHA STATE PROFILE 2019-20 (MICRO, SMALL AND MEDIUM ENTERPRISES RELATED INFORMATION) Prepared By Dr. Shibananda Nayak Assistant Director (E.I) MSME - DEVELOPMENT INSTITUTE, GOVERNMENT OF INDIA, MINISTRY OF MSME VIKASH SADAN, COLLEGE SQUARE, CUTTACK-753003 ODISHA F O R E W O R D Micro, Small & Medium Enterprises (MSMEs) has been acting as a catalyst to bring about the socio-economic transformation of the country. This sector is a nursery of entrepreneurship, often driven by individual creativity and innovation. MSME sector contributes around 29% of India’s GDP. This sector contributes more than 48% of country’s overall exports. There are more than 63 million MSMEs in the country, out of which 31% are from manufacturing sector and 33% from services sector. Out of 63 million MSMEs, 51% of MSMEs are from Rural areas and 49% are from Urban Areas and employ close to 110 million people. 3.91 lakh MSMEs are operating in Odisha by the end of 2018-19. The labour capital ratio in MSMEs and the overall growth in the MSME sector is much higher than in the large industries. In the present world scenario, there is an urgency to give a boost to industrial activity for a faster growth of economy for which, there is a need for getting relevant information to instill the confidence among entrepreneurs to plan for an appropriate investment strategy either to set up new industry or to enlarge the existing activity in the State.