‘The 2025-26 Union Budget marked a significant step in recognising this challenge. It increased allocation to the SME sector and delivered a dramatic 800% rise in funding for research and development (R&D), primarily through a Rs 20,000 crore capital infusion into the Department of Science and Technology.’
India’s small and medium enterprises (SMEs) are often described as the backbone of the economy. They contribute to almost 30% of India’s GDP and employ well over 250 million individuals. However, when it comes to innovation, a decisive component of productivity and sustainable competitiveness, SMEs are all but invisible. This paradox lies at the heart of India’s industrial and economic challenge: how to empower small firms not only to survive, but to innovate, compete and grow.
Read more here: https://www.financialexpress.com/opinion/a-coupon-for-innovation-why-indias-small-firms-need-a-boostnbsp