What percentage of global GDP is contributed by MSMEs,

Solution

MSMEs play a vital role in global economic stability and development. According to the United Nations, MSMEs contribute to 50% of the global GDP. They are recognized for being the backbone of economies worldwide, representing 90% of businesses and generating 60-70% of employment globally. This data underscores the importance of MSMEs not only as economic entities but also as drivers of inclusive and sustainable development, particularly in empowering vulnerable sections like women, youth, and the working poor.