Assistant Professor, Department of Chemistry, Smt. Chandibai Himathma Mansukhani College, Ulhasnagar 421003, Thane, Maharashtra, University of Mumbai
Journal Title: PARIPEX-Indian Journal of Research - Year 2017, Vol 6, Issue 5
Abstract
MSMEs play the pivotal role in an economy, which can be considered as the major developing engine of any nation. It is the vital sector which can provide ample opportunities to mitigate the problems of unemployment and, to fill the gap among statuses of the people by providing them with the creative and viable base for livelihood. MSMEs are one of the most dynamic and vibrant sectors of Indian economy and their role in socio-economic progress are well established. The impressive performance of this sector is the true reflection of economic growth since its agility and robustness portrays the actual pace of industrial & entrepreneurial development. The MSME sector has a significant contribution to the manufacturing output, employment and exports of the country. It is a nursery of innovative entrepreneurship. MSMEs have the potential and magnitude to dissolve various economy-related problems. In our country despite maintaining a higher growth rate, this sector faces numerous challenges that defy its momentum when it comes to competing with large scale industries. In this study we have made an attempt to address the performance trend and, various challenges faced by MSMEs in the Indian context. Evolution of this sector as a platform in harnessing local and global markets is possible by adopting imperative measures to meet these challenges in an efficient manner.
Authors and Affiliations
SHOBHIT SHARMA, Dr. ASHISH SHUKLA, Dr. ROHIT RAMESH
Keywords
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