A Project Report On MSME’s Contribution To Domestic Market And Business

Introduction

Micro, small, and medium enterprises (MSMEs) in India have demonstrated considerable strength and resilience in maintaining a consistent rate of growth and employment generation during the global recession and economic slowdown. Indian economy during recent years has shown an appreciable growth performance by contributing to the creation of livelihood opportunities for millions of people, enhancing the export potential, and increasing the overall economic growth of the country.

Prompt and appropriate fiscal stimulus, effective monetary policy, and huge capital inflows were greatly instrumental in the bounce-back situation of the economy. As a catalyst for the socio-economic transformation of the country, the MSME sector is extremely crucial in addressing the national objectives of bridging the rural-urban divide, reducing poverty, and generating employment to the teeming millions. It is, therefore, essential that India adopts a suitable policy framework that provides the required impetus to seize the opportunities and create an enabling business environment in order to keep the momentum of growth and holistic development.

Objectives of the Study

The objectives of this study are to briefly highlight the functional scenario of micro, small, and medium enterprises in India, to focus on the huge growth potential and opportunities available for the development of this sector; to identify some important issues, challenges, and constraints confronted by these enterprises and to offer suggestions to overcome the same.

Methodology

The study involves a critical analysis of the functioning of some micro, small, and medium-scale enterprises in the country both in the manufacturing and service sector, and intends to identify the potentialities for growth, opportunities, major issues, and challenges experienced by these enterprises.

The data are collected mostly from secondary sources by way of access to various Government policies/ programs including published Annual Reports, Journals, Books, and available official websites. The primary data are based on the analysis of structured questionnaires and interviews of entrepreneurs, industry workers, and other stakeholders.

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