MSME: ETRISE Top MSMEs Ranking: Unveiling India’s best small businesses

Forty-five per cent of the country’s industrial output. Forty per cent of the total exports. These are no ordinary figures. These are courtesy the Micro, Small & Medium Enterprises (MSME) sector, aptly called the ‘Backbone of the Indian economy’.

Despite such stellar and consistent contribution, India’s privately-owned and nurtured MSME companies have not been celebrated and feted enough. A blend of new and mature companies, Indian MSMEs boast of a diverse and dynamic set of entrepreneurs who are breaking new boundaries every day. In a volatile and slightly-uncertain economic climate, it becomes important, and imperative, to find businesses that drive growth, innovation and job creation.

And ETRISE’s Top MSMEs Ranking continues the quest to honour and celebrate the success of home-grown MSMEs. An Economic Times Digital initiative powered by the ETRISE Editorial Team, the programme recognises small businesses that have excelled and raised the bar high. The stage is set; the curtains will now rise at the digital felicitation ceremony on Friday, October 16.

To Register for the event, please click here.

Over the course of the ranking we received over 7000 plus entries across different categories from across the country that represented the breadth of the sector. From a manufacturer of boiler plates to the next generation of rocket propulsion systems, the diversity and multifariousness of the entries makes ETRISE Top MSMEs one of the most definitive and exhaustive lists of MSMEs in the country.

ETRISE, India’s largest platform for the MSME eco-system, is a one-stop-shop for news coverage on entrepreneurship, small business management, and business opportunities. The go-to place for the small business community, it has made life easy for many by showcasing simple ways to help grow their business

With Top MSME Ranking, the idea was to discover and chronicle businesses that are creating a new and lasting template for success.

The nationwide search to find India’s best was open to any business if it qualifies as a Micro, Small, or Medium Enterprise, as specified by the Ministry of MSME, Government of India.

Under the MSME Development (Amendment) Bill, 2018, the definition of an MSME is based on the annual turnover and is as follows. This was agnostic of the sector and business type. For the purpose of the ranking, classification of each was as under:

  • Micro Enterprise: Less than Rs 5 crore
  • Small Enterprise: Rs 5 crore to Rs 75 crore
  • Medium Enterprise: Rs 75 crore to Rs 250 crore

Micro enterprises could only nominate themselves for ‘India’s Top Innovative Businesses’, while Small and Medium Enterprises can participate in ‘India’s Fastest Growing Business’ and ‘India’s Top Performing Businesses’.

For Fastest Growing and Top Performing, the key evaluation parameters included ‘Financial Growth’ and ‘Financial Health’ based on financial documents.

Reflecting the entrepreneurial drive seen across the country, the ranking honours both innovation and excellence. Union Bank of India is the Presenting Partner for the programme, and MIDC, Caspian Debt and Cogoport being the Associate Partners. CARE Ratings was the Assessment Partner for the Rankings.

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