India currently has around 70 unicorns and 63 million MSMEs. A unicorn is a high-value startup that has attained a valuation of US$1 billion or above. Meanwhile,MSMEs are low-value entities with investment and turnover within the prescribed limits, significantly lower than unicorns. However, some MSMEs have tremendous potential to transform into unicorns if they are nurtured well, and adequate attention is given to their growth, and if all the challenges they face are correctly addressed. Hence, the Indian government must initiate a program jointly with some private equity venture capital funds to adopt and nurture those MSMEs and offer them proper support.
