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Journal of Pharmacognosy and Phytochemistry

Journal of Pharmacognosy and Phytochemistry

Vol. 8, Issue 1 (2019)

A study on role and prospects of micro, small and medium enterprises in India

Author(s):

Rakesh Rathore and Aditi Mathur

Abstract:
Micro, Small and Medium (MSME) enterprises are the valuable industries in India and they are second largest contributor after agriculture in Indian economy. Micro, Small and Medium enterprises play a significant role in Indian economy through creating huge employment opportunities for skilled and semi-skilled people. Approximately they employee 40 per cent work force of the country. The paper focuses on recent policy initiatives and schemes for the MSME in India and role of micro, small and medium enterprises in boosting nation economy. Lack of proper credit or finance, lack of technological knowledge, lack of infrastructure are the major barriers of these industries. This paper helps in identifying constraints faced by industries in recent past and initiative taken by government of India. The sector is classified mainly in three categories, micro investment of below 25 lakh, small investment of 25 lakh to 5 crore and medium investment of 5 to 10 crore as per MSME act, 2006. It is highly vibrant and dynamic sector for youth to start their venture and also helps in balancing the regional imbalance of the country through significant contribution in manufacturing, production and export of the goods. The paper also highlights, how to minimize the hurdles for better performance of MSME industries. The paper is based on the secondary data collected from annual reports of ministry of MSME, different websites, newspapers, various published research papers etc.

Pages: 2046-2049  |  1860 Views  1062 Downloads


Journal of Pharmacognosy and Phytochemistry Journal of Pharmacognosy and Phytochemistry
How to cite this article:
Rakesh Rathore and Aditi Mathur. A study on role and prospects of micro, small and medium enterprises in India. J Pharmacogn Phytochem 2019;8(1):2046-2049.

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