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India has approximately 6.33 Crore MSMEs. MSMEs contribute nearly 30% of the country’s GDP. Uttar Pradesh has a share of 14.20% of the total MSMEs, making it the largest number of states with MSMEs in the country. It is followed by West Bengal which has a share of 14%, which is then followed by Tamil Nadu and Maharashtra at 8%.

Class of Business

MSME setup typically purchase following types of insurance covers:

  • Asset Protection – Fire & Burglary Insurance, Marine Insurance etc.
  • Liability Insurance – Employer’s Liability, Errors & Omissions etc.
  • Employee Benefits – Group Health Insurance etc.

IRDAI has prescribed the following policies for mid-size warehouses/manufacturing w.e.f. 1st April 2021 –

  • Bharat Griha Raksha
  • Bharat Sookshma Udyam Suraksha
  • Bharat Laghu Udyam Suraksha


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