Micro, Small & Medium Enterprises (MSME’s)
Micro, Small & Medium Enterprises (MSME’s) have been accepted as a catalyst factor for economic growth and for promoting equitable development. The employment generation intensity of MSME’s sector is higher than the large enterprises. In India, MSME’s have created more than 90 percent of the jobs, employing 114million people, contributing 30 percent of GDP and also contributing major share of industrial production and exports. These MSME’s are playing significant role in the development of developing countries like India. It is considered as backbone of the economy. With the qualities like dynamism, briskness and convertibility to survive in recession, this sector can have wide opportunities in coming future. MSME Sector: Earlier the industrial unit’s structure in India was classified as Small Scale units and Large Scale Units based on investment ceiling of the installed plant and machinery. Small Scale Units were classified as ancillary units, tin...