GROWTH AND PERFORMANCE OF MICRO SMALL AND MEDIUM ENTERPRISES IN INDIA

Abstract: The importance of MSME has been recognized in recent years for its significant contribution to gratify socio economic status of small and medium entrepreneur's. They play vital role in industrial development of a country. The MSME sector is an important pillar of Indian economy, as it contributes greatly to growth of Indian economy. The present paper has made an attempt to focus on the present performance of MSME in India in terms of growth in number of units in different states, growth in term of area and activity based, growth in category wise, employment generation and contribution to total industrial production and GDP of India and problems faced by MSME in India. It is concluded that this sector is contributing significantly to manufacturing, trade and service sector, generating employment opportunities to rural people and to the GDP of the country. MSME faces a number of problems such as absence of adequate and timely financial facilities, non-availability of suitable technology, scarcity of skilled manpower and market facility.

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