Growth and Performance of Micro, Small and Medium Enterprises in India

Abstract

The Industrialization is a progressive measure which creates social and economical change by transforming the human society from pre industrialization to industrial era; Industrialization plays a pre dominant role in the development of the economy, act as a basic fundamental factor which is influenced on the growth prospects of the economy of a country. The prominence of industrialization creates employment opportunities, balancing the regional development, increasing in the standard of living and poverty eradication etc. In this context the MSME sector act a factory for entrepreneurship and self employment opportunities as well as tool for poverty eradication. So the present study attempts to analyze the growth and performance of Micro, Small and Medium Enterprises in India. The main purpose of the study is to know about the current status, growth and development of the Micro, Small and Medium Enterprises and also discuss the government initiative and measure for development of MSME's in India. The study is based on secondary data only which includes different references books, journals, research papers, Seminar proceedings, articles and government publications, annuals reports etc. This study attempts to test the correlations between the total working enterprises and employment as well as correlation between the Gross values of MSME & total contribution to Gross Domestic Product and for testing the hypothesis correlation coefficient is used and excel calculations are analyzed.