New Delhi, January 21: Micro, Small and Medium Enterprises (MSMEs) from the North Indian states have registered the highest growth, reveals a new growth analysis report from Credit Rating Information Service of India (CRISIL).
The rating agency has analyzed the growth performance of 3,850 MSMEs rated by it across India from 2010-11 to 2012-13. The finding of the analysis shows that the average sales per enterprise of these CRISIL-rated MSMEs increased from Rs 1,668.80 lakh in 2010-11 to Rs 2,505.30 lakh in 2012-13. The increase marked a compound annual growth rate (CAGR) of 22.53 per cent, Business Standard reports. (The analysis was based on the financial year April 1 to March 31).
According to CRISIL, the top 10 states leading the MSME growth charts are Delhi, Punjab, Rajasthan, Haryana, Gujarat, Andhra Pradesh, West Bengal, Maharashtra, Uttar Pradesh, and Tamil Nadu, in descending order.
The top three states in the list are from northern India. MSMEs from the top ten states grew at a higher CAGR of more than 15 per cent. Their remarkable growth should be attributed to the location as they enjoy the benefits of being close to a large market and the fast-growing urban centre of Delhi NCR.