World-wide, Micro Small Medium Enterprises (MSMEs) have been accepted as the engine of economic growth and for promoting equitable development. Now, with the Narendra Modi – led NDA government at the center, expectations are naturally running high. It is the time to fulfill the same.
MSME sector occupies an important position in the country’s industrial economy and contribute to industrial production, exports, creation of employment opportunities etc. This is a sector that has emerged as a highly vibrant and dynamic sector of the Indian economy over last few decades. It play crucial role in providing large employment opportunities at comparatively lower capital cost than large industries and at the same time also help in industrialization of rural and backward areas. This result in reducing regional imbalances assuring more equitable distribution of national income and wealth thereby contributing enormously to the socio -economic development of the country. (more…)