96% MSMEs in India optimistic about 2023, expect profits to rise: Report

Two in every three MSMEs expect the profit to jump by over 30 per cent: MSME Business Confidence Study

Ninety-six per cent of Micro, Small and Medium Enterprises (MSMEs) in India expect their profits to rise in 2023, a study released on Wednesday said. Out of these, two in every three MSMEs expect the profit to jump by over 30 per cent, it added.

According to MSME Business Confidence Study released by digital lender NeoGrowth showed that 75 per cent of MSMEs expect the consumer demand in India to rise in 2023. Only four per cent of those surveyed believed that the demand would fall. Industries from the retail and trading segment were the most optimistic.

Three out of