Growth Prospective of Indian Economy - a study on Micro Small Medium Enterprises in India

Gururaj Barki; Dr.S.G.Vibhuti

Volume : VI, Issue : IV, April - 2017

Growth Prospective of Indian Economy - a study on Micro Small Medium Enterprises in India

Gururaj Barki, Dr. S. G. Vibhuti

Abstract :

The capacity of Micro, Small and Medium Enterprises (MSMEs) around the world for powerful economic growth, in fact the development of MSMEs at global level, national level and regional level cannot be overemphasized. As India accelerates up to retrace the high growth path, the MSME sector assumes a essential role in driving the growth engine. The MSME sector in India continues to exhibit extraordinary flexibility in the face of testing global and domestic economic circumstances. The sector has sustained a good annual growth rate from the past few years. The sector has shown estimable remarkable innovations and its flexibility to survive economic changes. The significance of MSMEs is attributes more employment generation, low rate of capital requirement and technology requirement, promotion of industrial development in rural areas, use of traditional skill, use of local resources, mobilization of resources and exportability of products.