Go Unlimited with Magzter GOLD
Get unlimited access to 10,000+ magazines, newspapers and Premium stories for just
Try GOLD - Free
PHDCCI urges Budget push to strengthen MSMEs as growth engine of economy
The Statesman Siliguri
|January 08, 2026
The PHD Chamber of Commerce and Industry (PHDCCI) has outlined a comprehensive set of proposals for the union Budget 2026-27 on Wednesday here, calling for focused policy support to strengthen India’s Micro, Small and Medium Enterprises (MSME) sector.
Dr Ranjeet Mehta, CEO and Secretary General of PHDCCL, said MSMEs hold the potential to propel India towards a 10 per cent growth trajectory, noting that the sector's role in manufacturing, exports and employment has expanded steadily over the years.
In 2025, MSMEs accounted for around 30 per cent of India’s manufacturing output and emerged as the second-largest employer after agriculture, underlining their growing economic significance.
India’s export performance also reflects the rising contribution of MSMEs, with total exports forming 43.59 per cent of GDP in 2022-23, increasing to 45.73 per cent in 2023-24 and further to 45.79 per cent in 2024-25 up to June 2025.
According to PHDCCI, these trends indicate deeper integration of Indian enterprises into global trade networks and value chains.
The chamber highlighted the formalisation of the sector as another positive development, with more than 7.30 crore enterprises registered on the Udyam Registration Portal and the Udyam Assist Platform between July 2020 and December 2025.
This story is from the January 08, 2026 edition of The Statesman Siliguri.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM The Statesman Siliguri
The Statesman Siliguri
Central government rebuts reports on monetisation of temple gold holdings
The central government has rebutted the reports of gold bonds to temples in exchange for temple gold reserves or that a proposal has been approved for monetisation of temple gold holdings.
1 min
May 20, 2026
The Statesman Siliguri
ISF alleges TMC-BJP understanding behind Falta candidate’s exit
India Secular Front (ISF) leader Naushad Siddiqui today alleged a possible understanding between the Bharatiya Janata Party (BJP) and the Trinamul Congress (TMC) as one of the reasons behind Falta candidate Jahangir Khan’s withdrawal from the upcoming repoll.
1 mins
May 20, 2026
The Statesman Siliguri
Bengal govt dissolves four civic bodies, appoints administrators
The West Bengal Municipal Affairs Department on Tuesday announced the dismantling of the boards of four Trinamul Congress-run urban civic bodies in the state, allocated in North Bengal, against which there were serious allegations of operating illegally through administrative boards for a long time without conducting elections for the formation of the boards.
1 mins
May 20, 2026
The Statesman Siliguri
Messi’s India Tour event organiser files complaint against former Bengal minister, ex-DGP
The organiser of Lionel Messi's 'GOAT India Tour-Kolkata edition’, Satadru Dutta, has lodged a written complaint against former state Sports Minister Aroop Biswas at Bidhannagar South Police Station in connection with alleged mismanagement during the Argentine football legend's event at Yuva Bharati Krirangan in December 2025 in Kolkata.
2 mins
May 20, 2026
The Statesman Siliguri
Strategic partnership for the Indo-Mediterranean
The relationship between India and Italy has now reached a decisive stage.
5 mins
May 20, 2026
The Statesman Siliguri
As hostage crisis continues in Manipur, CM sends peace teams
With an aim to resolve the hostage crisis, the Manipur government has sent two different teams comprising of Church leaders to conduct talks with Naga and Kuki groups.
1 mins
May 20, 2026
The Statesman Siliguri
Teenage gunmen open fire on San Diego mosque, killing three men and then themselves
Two teenage shooters opened fire at a San Diego mosque on Monday and killed three men ~ then killed themselves a few blocks away ~ in an attack police are investigating as a hate crime.
1 mins
May 20, 2026
The Statesman Siliguri
Cosmic Double Detonation
How wonderful a star's life will be depends on how big it is. The bigger it is, the faster it will run out of fuel and die. That's why the deaths of big stars are more impressive than the deaths of little stars like our Sun.
3 mins
May 20, 2026
The Statesman Siliguri
Clean energy, offshore wind among five key agreements signed by India, Norway
As India and Norway deepen bilateral engagement during the visit of PM Narendra Modi to Norway, the Council of Scientific and Industrial Research (CSIR), Department of Scientific and Industrial Research (DSIR), GoI signed a series of important agreements with leading Norwegian research, academic and industrial organisations in Oslo on Monday to strengthen cooperation in science, technology, innovation and sustainable development.
1 min
May 20, 2026
The Statesman Siliguri
Police arrest ‘mastermind’ behind Park Circus violence in Kolkata
Kolkata Police on Tuesday morning arrested Faridul Islam, the mastermind behind the violence at the Park Circus area in central Kolkata on Sunday afternoon.
1 mins
May 20, 2026
Listen
Translate
Change font size