The number of sick micro, small and medium enterprises (MSMEs) has doubled in the last four years, the Minister of State for MSME Shri Haribhai Parathibhai Chaudhary in a written reply to a question in Lok Sabha on Monday April 10,2017
The reply provides figures made available by the Reserve Bank of India, as follows:
The number of sick MSMEs during 2015-16 has doubled to 4,86,291 compared to 2,22, 204 sick units reported during 2012-13.
According to the Ministry of Micro, Small and Medium Enterprises, there are around 3.6 crore MSMEs and these provide employment to 8 crore people. They produce over 6,000 products which account for 8 per cent of the GDP, 45 per cent of manufacturing output and 40 per cent of exports.