Document is current

Article History

Received: 21 June 2025

Accepted: 15 January 2026

First Online: 23 January 2026

Competing interests

: The authors declare no competing interests.

: This article does not contain any studies with human participants performed by any of the authors. This study utilizes publicly available secondary data (Annual Survey of Industries, India and the World Bank Enterprise Survey for India). As the data is de-identified and publicly accessible, ethical approval was waived.

: Informed consent was not required as the study did not involve human participants.