MSMEs vital for India's economic landscape: Report

New Delhi, Jan 15 (UNI) A NITI Aayog report has recommended the convergence of multiple MSME support schemes to eliminate duplication and enhance efficiency, proposing the creation of a centralized AI-powered portal for the sector that contributes 29 per cent to India's GDP. The comprehensive study titled "Achieving Efficiencies in MSME Sector Through Convergence of Schemes," prepared by the Administrative Staff College of India (ASCI), identifies significant overlaps among 18 central schemes currently operating with similar objectives. The report, based on consultations with 98 stakeholders across six cities including Mumbai, Lucknow, Chennai and Hyderabad, reveals that approximately 70 per cent…