Micro, Small and Medium Enterprises (MSME) in India: A Review

Abstract

Small and medium-sized enterprises (MSME) are often regarded as an economy's primary growth driver. Growth cannot be inclusive unless and until its benefits trickle down to the poor and working class. In a developing country like India, where wealth and income disparity are very high, a steady rise in per capita income does not always mean an improvement in living conditions for all citizens. Adequate work possibilities for the impoverished mass should be developed to enable them meeting their subsistence level of consumer demand, which in turn would reduce the curse of poverty, inequality, unemployment, and underemployment. The purpose of this article is to evaluate the effectiveness of the Indian small and medium enterprise sector. The purpose of this article is to analyze the effectiveness of SMEs in terms of their development and potential. It's decided that this industry has a large impact on the economy via its effects on employment, exports, and total manufacturing output.