Micro, Small and Medium Enterprises (MSME) are complementary to large units enabling equitable distribution of national income by providing additional employment opportunities and mobilising skills and capital. 324.88 lakh MSMEs were in rural area and 309 lakh MSMEs were in the urban areas. They are gaining prominence in the today world with the digitalization and cash less economy. The Ministry of MSME in India supporting these units with various schemes aimed at financial assistance, technology assistance and upgradation, infrastructure development, skill development and training, enhancing competitiveness and market assistance of MSMEs. The share of MSMEs in GDP of India is 28.77% in 2015-16. Government of India enters into long-term Agreements/Memorandum of Understanding (MoUs) with various countries for promoting cooperation globally. In this context, the paper presents the secondary data largely available in the web sources and official reports to have a broader understanding of the MSMEs with regard to policies, contribution and the globalization of them in India.

KEYWORDS: MSMEs, policy, globalisation, GDP, MoU and international cooperation