An Empirical Study on the Msmes in India in the Contemporary Era – With Special Focus on the Constraints and Opportunities

J. Duraichamy; K.R. Srinivasan

doi:10.34293/commerce.v7i3.3520

J. Duraichamy Assistant Professor, Department of Commerce & Research Centre, Sourashtra College, Madurai, Tamil Nadu, India
K.R. Srinivasan Assistant Professor & Head, Department of Economics, Sourashtra College, Madurai, Tamil Nadu, India

DOI: https://doi.org/10.34293/commerce.v7i3.3520

Keywords: Sustainability, Economic Development, Employment Generation, Innovation Activities, Struggles, Monetary Development, Potentiality

Abstract

Micro, Small and Medium Enterprises accept a basic function in the financial and social improvement of the country. It additionally accepts a key function in the development of the economy with its ground-breaking, beneficial, versatile and inventive creative soul. MSMEs contribute 45% in the mechanical yield, 40% of tolls, using 60 million people, make 1.3 million occupations consistently. The essentialness of MSMEs and its different economic commitment like work age developing new business enterprise offering volume to the business base and commitment to public yield and passages of our country was recognized. They contribute in GDP and GNP of India. It goes probably as a raising ground for business individuals to create from little to gigantic. MSME Sector are growing immensely in India. MSMEs are huge in the financial development of India anyway this division isn’t getting sufficient assistance from the concerned Government Departments, banks, cash related establishments and corporate. Before long, the Indian MSMEs are facing different sorts of issues. If the Government, Bank and Economic Institutions will take genuine exercises in the region of MSME and they will contribute wholeheartedly while updating the MSMEs, these troubles can be handled and the money related development movement of India will be 8-10% for the next many years. At this moment, there are More than 50 million SMEs exist in our country India. The SME division has developed competently by contributing 40% of the nation’s charges and delivering an extraordinary many occupations consistently. The SME division has a great deal of potential for development in the coming quite a while with respect to spearheading soul, advancement and occupation creation in the country. Regardless, the SME division has been fighting an aftereffect of the heaviness of troubles. It is being the motivation factor to do a research study on the constraints and opportunities of MSMEs in India. And the study is an empirical based study and secondary sources oriented.