Impact of Globalization on MSME Prospects, Challenges and Policy Implementation on Economic Growth
Journal Title: International Journal of Trend in Scientific Research and Development - Year 2016, Vol 1, Issue 1
Abstract
Globalisation is bound to impact every economic activity -the small scale sector is no exception. Along with that World Trade Organisation W.T.O agreements and negotiations have thrown up a variety of challenges. The disturbing factor is that most of the small units are unaware of these agreements and negotiations and have no idea as to how they are going to affect them. With a view to build the capacity of the Indian micro, small and medium manufacturing enterprises for overcoming competition in the global markets and facing challenges being posed by the entry of the multi nationals in the domestic markets Government of India GoI has taken various policy measures. The current paper focuses on the contribution of MSMEs, prospects and problems for MSMEs in this highly competitive global era. Micro, Small and Medium Enterprises MSME sector has emerged as a highly vibrant and dynamic sector of the Indian economy over the last five decades. MSMEs not only play crucial role in providing large employment opportunities at comparatively lower capital cost than large industries but also help in industrialization of rural and backward areas, thereby, reducing regional imbalances, assuring more equitable distribution of national income and wealth, the process of globalization is an inevitable phenomenon in human history which has been bringing the world closer since the time of early trader and exploration through the exchange of goods, products, information, jobs, knowledge and culture. S. Chandra Sekhar | N. Radha "Impact of Globalization on MSME: Prospects, Challenges and Policy Implementation on Economic Growth" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-3 | Issue-6 , October 2019, URL: https://www.ijtsrd.com/papers/ijtsrd29168.pdf Paper URL: https://www.ijtsrd.com/management/business-administration/29168/impact-of-globalization-on-msme-prospects-challenges-and-policy-implementation-on-economic-growth/s-chandra-sekhar
Authors and Affiliations
Keywords
Related Articles
- EP ID EP670990
- DOI -
- Views 101
- Downloads 0
A Brief Overview on Coronavirus Covid 19 in India
The World is globally battling and suffering from coronavirus outbreak. On 11 March 2020, the World Health Organisation declared COVID 19 as a global pandemic. Already More than 2 million cases have been reported all ove...
Gas Bubble Tracking During Casting Filling Process
During numerical simulation, one of the biggest challenges is to simulate the smallest air bubbles that can be entrained in the metal. In fact, in common fluid dynamic simulation of casting process filling each time a re...
Concept of Regression Analysis in Concrete Mix Design
In civil engineering, on site concrete mixing is very important .To determine compressive strength of concrete mix, statistical method is very useful. Regression analysis is an effective statistical technique. By analysi...
Gender Differences and Achievement at the Advanced Level Chemistry in the General Certificate of Education Examinations in the English Speaking Sub System of Education in Cameroon
Achievement is used as one of the important indices upon which most decisions about the learner is based and it is a complex and multivariate issue with a plethora of evidence associated with determinants of student achi...
The Impact of Students Inclinations on the Choice of Study Specialization using Bayesian Networks
In recent years, Universities had witnessed multiplicity and diversity in the fields of study specialization, through increasing the number of Specializations’ years on one hand and creating faculties of new Specializati...