Micro, small and medium businesses are playing a very important role in the overall economic growth in India. MSEs are contributing 8% of the GDP, 40% of the industrial production and 45% of the total exports, direct as well as indirect. MSEs are the second major source of the employment in our country after agricultural sector.
Even though they are the major source for our economy, they are facing so many problems like competition from large enterprises, lack of financial support, working conditions etc., This is the reason the government undertaking many development measures to improve the productivity of MSEs. Some of them include:
- Cluster development programme for the technology upgradation of the MSE units. The units of the same industry form into clusters.
- Government is taking measures to form Business linkages between large firms and MSEs in order to help MSEs to gain the market access and to improve technologically.
- Financial assistance is been given to the MSEs like Micro finance, credit guarantee schemes (free loans upto Rs.50 lakh) etc.,
- Training facilities and infrastructure facilities are provided for the smooth flow of the business.
- Capacity building scheme and ISO certificate reimbursement scheme to enhance the quality of MSEs.
- Providing assistance in marketing and exports and also facilitating for the modernization.
- Measures to simplify rules and administrative procedures to promote the micro enterprises and to generate employment.
- Various business development services are provided to increase the effectiveness and efficiency of MSEs.
Financial Source To MSEs In India
Contribution Of MSEs In GDP Of India
Contribution Of MSEs To Employment In India
Contribution of MSEs to the Exports in India
SMBs in India Becoming More Concerned About IT Security
MSMEs-Being Major Contributors, Struggling to Survive and Sustain