India, Oct. 8 -- United Nations Development Programme (UNDP) and Generali Central, representing the Generali Group's general and life insurance businesses in India, on Wednesday launched an Insurance Innovation Challenge to identify and scale solutions that strengthen the resilience of India's Micro, small and Medium-Sized enterprises (MSMEs).

India's more than 73 million MSMEs contribute about 30 per cent of the country's GDP and 44 per cent of its exports, while employing 60 per cent of its workforce (SIDBI, 2025).

Yet climate shocks, supply-chain disruption, workplace risks and unexpected personal shocks affecting owners and workers are placing these businesses under growing strain.

Insurance can help MSMEs absorb such shocks, keep ...