Micro, Small and Medium Enterprises
The Micro, Small and Medium Enterprises or the MSME sector of India is the backbone of the economy. This is because the MSME sector contributes to 45% of India’s Total Industrial Employment, 50% of India’s Total Exports and 95% of all industrial units of the country. It has been observed that more than 6000 types of products are manufactured in these industries (As per msme.gov.in). From the above data, it is quite evident that the economy of the country grows as a whole and flourishes, only when the MSME industries grow.
MSME sector is classified into two categories:
i. Manufacturing enterprise; and
ii. Service enterprise.
They are defined in term of investment in Plant and Machinery/ Equipment as below:
The White Papers written by the Summer Interns 2020 from PGP students of IIM Rohtak Batch 2021, covers below topics on MSME:
- How does MSME sector contributes to the Indian economy?
- How does MSME sector contributes in generating employment pool?
- Funding scenario for MSMEs – conventional or non-conventional
- Implementation of Technology in MSMEs
- Impact on MSME sector – Post-COVID Crisis- Possible job losses
- Possible and profitable collaboration among MSMEs
- Role of equity in MSMEs
- How government can help MSMEs and how MSMEs can help themselves?