Citation:

Latika Karnani, Dr. Komal Jani. "A Decadal Review of the Problems and Prospects of MSMEs in India: A Secondary Analysis of Annual Reports (2013–2023)" International Research Journal of Economics and Management Studies, Vol. 5, No. 3, pp. 19-21, 2026. Crossref. http://doi.org/10.56472/25835238/IRJEMS-V5I3P103

Abstract:

This study presents a comprehensive decadal review of the evolution, structural challenges, and emerging opportunities of Micro, Small, and Medium Enterprises (MSMEs) in India based on Annual Reports issued by the Ministry of MSME from 2013 to 2023. The research adopts a qualitative secondary analysis approach and evaluates sectoral performance across employment generation, GDP contribution, export share, financial access, and technological advancement. The findings reveal persistent constraints such as limited institutional credit penetration, delayed payments, technological backwardness, infrastructure gaps, and regulatory complexities. The COVID-19 pandemic further intensified operational disruptions and liquidity stress across enterprises. However, the review identifies significant positive developments, including the introduction of Udyam Registration, digitisation initiatives, the Trade Receivables Discounting System (TReDS), the Emergency Credit Line Guarantee Scheme (ECLGS), export promotion schemes, and sustainability-oriented programs such as Zero Defect Zero Effect (ZED). The study concludes that although structural inefficiencies remain, policy-driven formalisation, digital transformation, and inclusive enterprise support mechanisms are gradually reshaping the MSME ecosystem. Strategic coordination, improved credit outreach, technological modernisation, and green entrepreneurship can further strengthen the resilience and competitiveness of Indian MSMEs in a dynamic global economy.

References:

[1] Ministry of Micro, Small and Medium Enterprises (2013–2023). Annual Reports. Government of India.
[2] Reserve Bank of India (2022). Report on Trends and Progress of Banking in India.
[3] Small Industries Development Bank of India (2021–2023). MSME Pulse Reports.
[4] NITI Aayog (2020). Strategy for New India @75.
[5] World Bank (2021). India: Unlocking the Potential of MSMEs.
[6] Lada, Suddin (2024). Determining factors related to artificial intelligence adoption among Malaysia’s small and medium-sized business. Elsevier.
[7] Iyna, K. (2026). Online-to-Offline (O2O) Models for Modern Retail Businesses, International Journal of Commerce, Finance and Digital Economy, 1(1), 1-12.

Keywords:

Credit Gap, Digital Transformation, Export Development, India, MSME, Policy Reform, Technological Challenges.