Micro, Small and Medium Enterprises (MSMEs) for Inclusive Growth
Edited by: Sarika Lohana
Micro, small, and medium enterprises (MSMEs) are the backbone of India's economy. They provide immediate large-scale employment, ensure a more equitable distribution of the national income, and facilitate effective mobilization of resources, both capital and labor, which might otherwise remain unutilized. The necessity to promote, modernize, and reorganize these enterprises is paramount. The needs, problems, and potentials of these enterprises differ, not just with the nature of activity, but also with size, geographical location, and structure. While the sector in general lacks access to marketing and credit facilities, the problem is more pronounced for people belonging to scheduled castes/scheduled tribes and minorities. Therefore, it is necessary to introduce social security, training, and health insurance schemes for these vulnerable groups. Even though India's government is providing several fiscal and monetary incentives for MSMEs, many of these enterprises suffer from lack of modern technology, skilled labor, inadequate bank credit, and an inefficient marketing network. All these constraints have resulted in a high cost structure placing this sector at a disadvantage vis-a-vis large industries. This book contains well-researched papers which provide valuable inputs pertaining to the problems and potentials of MSMEs in the context of policy emphasis on inclusive growth in India.
Publication Date: 1/20/2014