India’s reforms story is as much a triumph of the country’s small and tiny enterprises as it is about mega conglomerates.
Put together, these estimated 48 million small enterprises employ about 111 million people.
The sudden jump in 2006-2007 was caused by a change in definition of micro, small and medium enterprises through the MSMED Act in 2006. Read more on this here .
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Charts by Harry Stevens, Research by HT Business Desk