Open Access"Flow of Finance to the MSME Sector in India-Micro, Small and Medium Enterprises "
Author(s) -
Nalla Bala Kalyan,
Mrs. Toopalli Sirisha
Publication year - 2022
Publication title -
international journal of research publication and reviews
Language(s) - English
Resource type - Journals
ISSN - 2582-7421
DOI - 10.55248/gengpi.2022.3.2.14
Subject(s) - small and medium sized enterprises , goods and services , business , manufacturing sector , relevance (law) , industrial organization , commerce , economics , economy , finance , international economics , political science , law
MSMEs are expanding their sphere of influence across the economy, generating a diversified range of products and services to fulfill the needs of both domestic and global markets. MSMEs (micro, small, and medium-sized firms) have gotten a lot of attention in India recently, because to their strategic relevance to the economy and the country. MSMEs play a critical role in the creation of jobs. A total of 111.4 million individuals are employed by the country's 48.8 million MSMEs. MSMEs in the manufacturing sector alone manufacture over 6,000 goods and account for 7.7% of the country's GDP. Similarly, MSMEs provide 27.4 percent of the country's GDP in the services sector