Owing to MSMEs and Startups, India ranks 3rd in terms of Billionaires
Amidst the challenging market scenario in India and worldwide, the Micro, Small and Medium Enterprises (MSMEs) sector has been continuously showing consistent efforts of resilience, playing a pivotal role in driving the growth of the nation. It all goes to the MSMEs that today India ranks 3rd in terms of billionaires and within the next 10 years this rank will go up. According to Afr Asia Global Wealth Migration Review India will house another 238 billionaires on the list.
The MSME sector demonstrates the entrepreneurship spirit of India. These billionaires have also been born out of these MSMEs; they did not evolve overnight. May it be the recent case of Walmart taking over Flipkart or the other companies as Zomato and Redbus acquiring a platform for themselves, all of them started from the bottom.
With the government creating the more suitable environment for MSMEs in India, the rank will go high in the years to come.