Wars are geopolitical events, but their economic consequences are deeply local. They reach factory floors, disrupt small workshops, delay shipments, and strain cash flows, long before they appear in macroeconomic data. For Micro, Small and Medium Enterprises (MSMEs), these disruptions are not abstract risks but immediate operational challenges. Globally, MSMEs account for over 90% of businesses and 60–70% of employment, making them the backbone of economic systems. In India alone, MSMEs contribute over 30% to GDP and nearly 48% to exports, with a strong presence in manufacturing and labour-intensive sectors. This scale makes MSMEs critical not just for growth, but for economic stability. Yet, the very features that make MSMEs dynamic—flexibility, cost efficiency, and integration into supply chains—also make them highly vulnerable. Unlike large firms, MSMEs lack buffers. They operate with limited capital, depend on predictable logistics, and often rely on a narrow set of suppliers or markets. When war disrupts global systems, MSMEs absorb the shock first and most intensely. This article examines how wars impact MSMEs across production, employment, exports, and global contribution, and more importantly, how MSMEs have adapted and what practical strategies they must adopt to survive in an increasingly volatile world. The Structural Importance of MSMEs in the Global Economy Before analysing the impact, it is important to understand why MSMEs are central to this discussion. MSME Contribution to Economy (Source: UN MSME Report, Economic Survey) This data highlights a crucial point:MSMEs are not peripheral—they are the core of production networks.When wars disrupt economies, MSMEs […]