“MSMEs, the growth engine of India’s economy, have entered 2023 with renewed hope and optimism. Introducing measures around ease of doing business and broadening access to capital will further drive the growth of the sector. We anticipate that the government will establish an export promotion fund to help MSMEs expand their footprint globally. Additionally, developing a broad-based interest equalisation or subsidy schemes for exporters, along with measures for simplifying taxation, incentives towards ESG spending and tax incentives linked to employment generation can help re-energise the small business ecosystem.” – Sudarshan Chari, Executive Director and Head of Business Banking at DBS Bank India
