Current Affairs - Banking - Discussion

CRIF High Mark, a leading Indian credit bureau owned by CRIF has partnered with Small Industries Development Bank of India (SIDBI), the nation's apex financial institution for Micro, Small and Medium Enterprises (MSMEs), for the launch of sector-based insight reports called 'Industry Spotlight'. It will be a series of quarterly reports providing data and trends on key industry sectors in each edition. The first edition of the report will present a deep-dive analysis into the Indian drugs & pharmaceutical industry. The MSME sector plays a critical role in the economic growth of our nation. In India, more than 6 crore MSMEs contribute around 29.7% of the GDP and employ more than 11 crore persons. It is a vibrant sector and holds the promise of taking the GDP growth of the nation to the next level. Given the global trade tensions and the slowdown in demand affecting the large corporates, it becomes critical for policymakers to frame policies based on real-time data tracking.