Question

To make India a globally competitive economy, there must be a larger focus on exporting to the most demanding markets. A stronger participation of Indian Micro, Small and Medium Enterprises (MSMEs) in the global market can accelerate such a growth. This will lead to more opportunities in scaling up production, will speed up innovation and productivity. The MSME sector in India is the backbone of our country's economic structure and without this the country cannot progress. With over 63 million, MSME units, this sector covers 80% of the industries. This sector accounts for 31 % of GDP and 45% of total exports. It is also thee second largest employer in India providing jobs to over 120 million people. The MSME's should work towards becoming a part of global value chains (GVCs). It must also, find new opportunities to integrate themselves with the GVCs as exporters.

On the basis of the given text and common knowledge, identify the incorrect statement.

Options

• A stronger participation of MSMEs helps in fulfilling export demand and accelerating growth in India.

• Globalization brings innovation and hence enhances productivity.

• MSMEs is a part of global value chains.

• MSMEs are the nominal source of employment in India.

Answer 1

MSMEs are the nominal source of employment in India.

Explanation:

The majority of job openings in India come from MSME's. According to the 73rd NSSO, it has created millions of jobs in India. From 2015 to 2016.