New Delhi, April 13 -- India's nearly 80 million micro, small and medium enterprises (MSMEs)-employing over 328.2 million people and contributing 31.1% to gross domestic product (GDP), 35.4% to manufacturing output, and 48.58% to exports-have been navigating a harsh global environment over the past five years. From the covid-19 pandemic-induced economic standstill to cost shocks triggered by the Russia-Ukraine war, recurring volatility in West Asia, and trade disruptions under the Trump administration, the sector has faced repeated stress. Mint explains how the sector has weathered these challenges.

The pandemic was a full-blown disruption-demand collapsed, supply chains broke, and labour migration stalled production. Just as activity re...