Open AccessGrowth, performance and projections — Micro, small, and medium enterprises (MSME\'s) in India: A discourse analysis
Author(s) -
Sanket L. Charkha,
Bhavana K. Patel Bijal M. Shah
Publication year - 2021
Publication title -
journal of management research and analysis
Language(s) - English
Resource type - Journals
eISSN - 2394-2770
pISSN - 2394-2762
DOI - 10.18231/j.jmra.2021.032
Subject(s) - lakh , small and medium sized enterprises , per capita income , inclusive growth , economics , per capita , south asia , development economics , pyramid (geometry) , business , agricultural economics , economic growth , poverty , agriculture , geography , finance , population , mathematics , demography , archaeology , sociology , ethnology , geometry , history
The micro, small, and medium-sized enterprise (MSME) sector is regarded as an economy's growth engine. During 2012-13, the Micro, Small and Medium Enterprises (MSME) sector, including that of the business services industry, contributed 37.54 percent to the nation's exports GDP, with 805.24 lakh people employed inside this sector. For the fiscal year 2014-15, the industry contributed 44.70 percent of India's overall exports. Income and wealth inequality are also widespread, particularly in emerging nations like India. We require a 'Inclusionary Growth' framework to handle these issues. Growth will not even be comprehensive until and unless the benefits of growth reach the other side of the pyramid. A continuous increase in per capita income cannot inevitably translate to a sustained gain in standard of life in a developing country like India, where disparity in wealth and economic activity is large.