MSME Employment generation grew at 73 per cent during 2009 – 15 | CRISIL Study

An analysis of about 5,500 Micro, Small and Medium Enterprises (MSMEs) which are engaged in manufacturing activity and which approached CRISIL for renewal rating between 2009 and 2015 shows that employment generated by these units grew at 73 per cent over these seven years.

In 2009, the MSMEs provided employment to about 88 employees per unit. By 2015, this had climbed to 153 employees per unit. The top five states contributing to growth in employment generation are Kerala, Karnataka, Telangana, Tamil Nadu and Uttar Pradesh.

It may recalled that in the month of June 2015, Union Minister of Micro, Small and Medium Enterprises, Kalraj Mishra, digitally launched the Employment Exchange for Industries.  The Minister stated that the digital employment exchange is in line with the Prime Minister’s vision of Digital India wherein through this employment exchange for industries, job seekers can find employers and vice versa.

Programs like Make in India, Skill India, Clean India have created a huge momentum to drive industrial growth and create employment opportunities for the millions of youth in the country.

CRISIL believes the exchange will help MSMEs identify a manufacturing workforce based on the nature, size and geographical distribution. More importantly, they can search and hire skilled employees without incurring hiring and training costs.