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Friday, February 14, 2025

Why Bharat’s MSMEs are struggling while China’s ‘Little Giants’ thrive

“How Chinese ‘Little Giants’ Made It, And Lessons For India’s MSME Sector“, Swarajyamag, February 3, 2025:

“As we enter 2025, two contrasting economic narratives unfold in India and China. India, in a bold move, has unshackled its fiscal reserves through the Union Budget 2025, channelling greater funds and rolling out liberal policies aimed at revitalising its vast small and medium enterprises (SME) sector. Yet, beneath this financial infusion lies a sobering reality.

The country’s 63 million small businesses, once the backbone of its economy, are now grappling with mounting pressures — soaring costs, dwindling demand, and a relentless struggle for affordable credit. Despite policy interventions, the pulse of these enterprises grows weaker, their survival hanging in delicate balance.

Meanwhile, across the Himalayas, China has not only met but exceeded its 2025 ambitions, fostering an astounding 14,600 small, privately owned enterprises as drivers for top strategic industries. These so-called “little giants” include 5,000 enterprises working in new technology, including artificial intelligence (AI) and the low-altitude economy characterised by commercial drones, state broadcaster CCTV reported……”

Read the full article at Swarajyamag.com

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