Question

: objectives, characteristics and importance of msmes in indian economic development

Answer 1

SME- an abbreviation of Micro, Small& Medium enterprises- is the pillar of economic growth in many developed, and developing countries in the world. Often rightly termed “the engine of growth for India, MSME has played a prominent role in the development of the country in terms of creating employment opportunities-MSME has employed more than 50 million people scaling manufacturing capabilities, curtailing regional disparities, balancing the distribution of wealth, and contributing to the GDP-MSME sector forms 8% of GDP. Though Indiais still facing lack of proper market linkages, and challenges in terms of flow of institutional credit,