Micro, Small, and Medium Enterprises: An Overview (original) (raw)
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THE IMPACT OF MICRO, SMALL AND MEDIUM ENTERPRISES (MSMES) ON INDIAN ECONOMY IN INDIA
Shodhsanhita, 2022
MSME (Micro, Small and Medium Enterprises) is the soul of Indian business. Their involvement in an Indian economy like India is appreciated. Their key role is not only to generate employment, but also inspire less skillful level employee to begin at entrepreneur level. The objective of this research paper is to analyze the role of MSMEs in Indian economy (2020-2021), employment generation and estimated number of micro, small and medium enterprises. Current study has analyzed the annual report of MSMEs (2020-2021) using Ms-Excel and represented tables and charts of the analysis. This has been revealed that the MSME sector plays an important role in the growth and development of Indian economy and also aids in rendering employment opportunities to rural and urban areas. The study has also uncovered the percentage of leading industries in MSME sector and estimated number of employees and MSMEs. The limitation and future suggestion are also discussed in the study.
2012
This paper examines the growth and performance of Micro, Small and Medium Enterprises (MSMEs) in terms of employment, exports, production and growth in number of units. The sector occupy strategically important place in Indian economy in view of its considerable contribution to employment, production and exports (Planning Commission, GOI). Micro, Small and Medium Enterprises (MSMEs) facilitate the tapping of resources for productive purposes with minimum amount of capital investment, which in turn helps to strengthen the industrial structure of a nation. These enterprises existed in India for a long time in various sectors and contributed significantly in bringing down regional imbalance; generating employment opportunities, output, and exports; reducing poverty; fostering entrepreneurship and accelerating economic development. It occupies a position of prominence in India and contributes over 45 percent of the industrial production in terms of value-addition. This sector plays a key role in the industrialization process and accounts for one-third of exports, and employs the largest manpower next to agriculture. The paper concludes with policy recommendations to ensure the sustainable growth and performance of MSMEs in India.
Problems and Prospects of Micro, Small & Medium Enterprises (MSME's) in India
The Micro, Small and Medium Enterprises (MSMEs) play a vital role in the economic and social development of the country, often acting as a nursery of entrepreneurship and innovation. They also play a key role in the development of the economy with their effective, efficient, flexible and innovative entrepreneurial spirit. The MSME sector contributes significantly to the country's manufacturing output, employment and exports and is credited with generating the highest employment growth as well as accounting for a major share of industrial production and exports. MSMEs have been globally considered as an engine of economic growth and as key instruments for promoting equitable development. The MSME sector in India is highly heterogeneous in terms of the size of the enterprises, variety of products, services and levels of technology. The sector not only plays a critical role in providing employment opportunities at comparatively lower capital cost than large industries but also helps in industrialization of rural and backward areas, reducing regional imbalances and assuring more equitable distribution of national income and wealth. MSMEs complement large industries. Micro, Small and Medium Enterprises (MSME) contribute nearly 22 percent of the country's GDP, 45 percent of the manufacturing output and 40 percent of the exports. They provide the largest share of employment after agriculture. They are widely dispersed across the country and produce a diverse range of products and services to meet the needs of the local markets, the global market and the national and international value chains. The major advantage of the sector is its employment potential at low capital cost. It is well known that the MSME sector constitutes the spine of the nation, small Industry has been one of the major pillars of India's economic development strategy since Independence. India accorded high priority to Small and Medium Enterprises (SMEs) from the very beginning and pursued support policies to make these enterprises viable, vibrant and over time, these have become major contributors to the GDP. Moreover, the MSME sector has weathered and overcome stiff competition in the post liberalization period in the domestic and International arena. In nutshell, the micro, Small and Medium enterprises (MSMEs) play a leading role in propelling economic growth sustaining livelihood and in promoting equitable regional development.
Micro, Small and Medium Enterprise Sector in India
contribution of these enterprises to economic development and employment generation, which have attracted the attention of researchers and policy makers. It is therefore very pertinent and important to study about growth and contribution of this sector.
Major Role of Micro, Small and Medium Enterprises (MSMEs) Sector in North East India
International Journal of Multidisciplinary Research and Modern Education (IJMRME), 2022
The Micro, Small, and Medium Enterprises (MSME) sector has grown to be a vibrant area of the Indian economy and a crucial engine of the economic cycle. It generates the second highest employment possibilities and significantly aids in the growth of entrepreneurship. The MSME sector significantly contributes to the growth of the Indian economy, accounting for more than sixty-three million three hundred eighty thousand enterprises, over forty percent of exports, over twenty-eight percent of the GDP, and providing employment for about one hundred eleven million people. In this paper, an attempt has been made to analyses the major role of the MSME sector in North East India, and a brief discussion of the current situation, employment status, an overview of the targeted activities, and the growth and distribution of MSME in North East India. To achieve the study's various objectives, various methodologies were used. Secondary data has been analyzed to investigate the significant role of the MSMEs sector in North East India. According to the findings and analyses, the MSMEs sector as a whole is the engine of growth for the Indian economy and North Eastern states development. According to the study, there is an increasing pattern in the number of units, employment, and asset market value. It is worth noting that there is a strong relationship between the total factory unit and employment. The role of the MSMEs sector is rapidly expanding, and it has become a focal point for future growth in rural and urban development, with significant policy implications.
A study on role and prospects of micro, small and medium enterprises in India
Journal of Pharmacognosy and Phytochemistry, 2019
Micro, Small and Medium (MSME) enterprises are the valuable industries in India and they are second largest contributor after agriculture in Indian economy. Micro, Small and Medium enterprises play a significant role in Indian economy through creating huge employment opportunities for skilled and semi-skilled people. Approximately they employee 40 per cent work force of the country. The paper focuses on recent policy initiatives and schemes for the MSME in India and role of micro, small and medium enterprises in boosting nation economy. Lack of proper credit or finance, lack of technological knowledge, lack of infrastructure are the major barriers of these industries. This paper helps in identifying constraints faced by industries in recent past and initiative taken by government of India. The sector is classified mainly in three categories, micro investment of below 25 lakh, small investment of 25 lakh to 5 crore and medium investment of 5 to 10 crore as per MSME act, 2006. It is h...
Progress and Performance of Micro, Small and Medium Enterprises in India
Micro, small and medium enterprises are powerful segment of the industrial development of a country. These sectors performed well with multidimensional aspects of the socio-economic aspects. Growth and progress of MSME in India is an emerging aspects which directly associated with the sustainable development in the country. This article is focused on the Progress and Performance of Micro, Small and Medium Enterprises in India with reference to MSME in of India.
Problems of Micro, Small, and Medium Enterprises (MSMEs) in India
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This paper purports to review the importance, progress, and major issues being faced by micro, small, and medium enterprises (MSMEs) and the perception of entrepreneurs based on empirical study. It has been recognized as an engine of economic growth and lifeline of the Indian economy owing to its inherent features of potential for huge employment generation, lower investment, low cost of capital, economic stimulation, empowerment and wellbeing of rural people. The Government has taken several measures to promote MSMEs by starting various flagship programs and initiatives.
Micro, Small, and Medium Enterprises (MSMEs) : The Current Scenario
Arthshastra : Indian Journal of Economics & Research, 2017
Micro, small and medium enterprises have contributed significantly to the industrial development in the country, particularly in the rural sphere. They have added distinctly to the output and also to the employment generation in our country. The country is endowed with abundant natural, mineral, and agro-based resources, which have potential for industrial development, particularly small scale industrial development. In the MSME sector, a majority of the small units are facing sickness. In spite of many efforts made to boost industrial development, there has not been as much industrialization as desired. In order to build a proper and effective strategy for the development of our country's economy through the MSME sector, some of the important strategies could be motivating and changing of the mindset and attitude of the local youth for taking up various entrepreneurial ventures. The present study reviewed the growth and development of MSMEs in the country in general and Andhra Pradesh in particular. It also examined the development of MSMEs during the Five - Year Plans. The study also suggested feasible measures for effective functioning of MSMEs in the country with particular reference to the state of Andhra Pradesh. The study was based upon secondary data. The analysis of the data and application of appropriate statistical tools helped largely in drawing meaningful and useful inferences.
Medium, Small and Micro Enterprises: The Indian Perspective
Journal of Alternative Perspectives in the Social Sciences, 2019
MSMEs have a crucial role in Indian manufacturing sector and have become engine of economic growth in India. Today, small and medium industry occupies a position of strategic importance in the Indian economic structure due to its significant contribution in terms of output, exports and employment. The small scale industry accounts for 40% f gross industrial value addition and 50% of total manufacturing exports. The present paper is a modest attempt to understand concept of SMEs, their formation and significance in overall growth in India.