Economic Reforms and Growth of Micro, Small and Medium Enterprises (MSMEs) In India

Bala Khanna¹

Section:Research Paper, Product Type: Journal-Paper
Vol.3 , Issue.1 , pp.1-5, Jun-2015

Online published on Mar 30, 2015

Copyright © Bala Khanna . This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
 

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Abstract :
Micro, Small and Medium Enterprises (MSMEs) play an important role in India’s industrial and economic development. As per the fourth census, conducted by the office of the Development Commissioner (Small Scale Industries) of the Government of India, there were 26 million Micro, Small and Medium Enterprises (MSMEs) in the country, which provided employment to about 60 million people, MSMEs contribute about 8 percent of the GDP of the country, about 45 percent of manufactured output and about 40 percent of exports. The present study examines the growth and performance of MSMEs in India since the inception of economic reforms in India. For the purpose of the study the required information relating to number of MSMEs units, labor employed, production and exports at all India level were compiled from various secondary sources like Economic Survey and of Annual Survey of Industries. The results of the study noted the positive and significant impact of globalization on the growth and performance of MSMEs in India.

Key-Words / Index Term :
Economic Reforms and Government Policies

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