New Delhi, Oct. 7 -- The United Nations Development Programme (UNDP) and Generali Central on Wednesday launched an Insurance Innovation Challenge to identify and scale solutions aimed at strengthening the resilience of India's micro, small and medium enterprises (MSMEs).

India has more than 73 million MSMEs, which account for around 30 per cent of GDP and 44 per cent of exports while employing about 60 per cent of the workforce, according to SIDBI's 2025 data.

However, climate-related shocks, supply-chain disruptions, workplace risks and personal emergencies affecting business owners and workers continue to expose MSMEs to financial vulnerabilities.

The organisers said insurance can help businesses absorb such shocks and recover faster...