An Analysis of Growth of MSMEs in India and Their contribution in Employment and GDP of the Country
Journal Title: International Journal of Interdisciplinary and Multidisciplinary Studies (IJIMS) - Year 2017, Vol 4, Issue 2
Abstract
The Micro, Small and medium enterprises of India is an important driving factor for the growth of Indian Economy. These MSMEs not only provide the employment opportunities but helps in the process of industrialization in rural areas simultaneously reducing the unequal income distribution among the residents. The MSMEs contribute significantly in the development of Indian economy through export production, domestic production, low investment requirements, operational flexibility, technology oriented enterprises etc. The SMEs are complimentary to large industries operating in the economy & contribute significantly in the development of the country. On an average this sector has almost 36 million units that provide employment to about 80 million individuals. This sector through the production of 6000 products contributes 8% to GDP of the country. It constitutes the 45% portion of the total manufacturing output and 40% of the total exports of the country. So, this paper has made an attempt to understand the role of MSMEs in providing employment opportunities & push towards the inclusive development of the country. The various problems faced by these MSMEs in executing their operations have also been discussed in this paper. The data for the study has been collected from the various secondary sources such as government websites, magazines, various reports & news papers.
Authors and Affiliations
Vinay Kumar
Keywords
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