MSMEs account for 99.9% of the 27 million commercially visible entities in India, contributing 35% of India's GDP and employing 25% of the non-farm workforce. The government has launched various initiatives like the Mudra scheme, Startup India, Skill India, and cluster development to promote MSME growth by improving access to finance, infrastructure, skills, and markets. Digitization of processes is also helping MSMEs operate formally and access more financial resources to realize their potential for higher economic growth.