Role Of Micro, Small And Medium Enterprises In Inclusive Growth

The Micro, Small and Medium Enterprise sector is crucial to India’s economy. There are 30 million enterprises in various industries, employing 69 million people. Together, these account for 45% of the industrial output and 40% of the exports. Although 95% of Micro, Small and Medium Enterprise units are informal in nature, the contribution of the sector to India’s GDP has been growing consistently at 11% per annum, higher than overall GDP growth of 7-8% . Nationwide, Micro, Small and Medium enterprises (MSMEs) have been acknowledged as the engine of economic acceleration and for promoting unbiased progress. The finest benefit of this sector is employment generation for the development of Indian economy by increasing of standard of living of the people. In this background researcher made an attempt to study the role of small, micro and medium enterprises in inclusive growth of Indian economy