- India’s macro economic growth is centred on MSME sector which plays a dominant role in contributing towards national output, employment generation as well as exports.
- We have 32 million MSME units in India generating 80 million jobs as of FY12-13 delivering 45% of national output and 36% of exports.
- MSME sector has the potential to emerge as the engine to take the economy to the desired destinations of
- Globalization
- Employment generation
- Equi Distribution of Income
- Acquiring competitive edge
- High rate of economic growth
- Towards meeting the growth rate of 8%, on a sustained basis, it is imperative for the industrial sector to grow at a faster rate supported by vibrant MSME sector.
- SME’s in the present form and structure are not prepared for the shift in growth. Very few thousands, on a base of several million units of MSEM’s, manage to achieve scale. This has been predominantly on account of lack of access to operational and intellectual excellence.
- SME’s should enforce Value based growth model which will enable them to achieve sustained happiness.
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