The Role of Micro, Small, and Medium Enterprises (MSMEs) in India’s Growth
Micro, Small, and Medium Enterprises (MSMEs) are often referred to as the backbone of the Indian economy. They play a pivotal role in driving economic growth, generating employment, fostering innovation, and contributing to the country’s industrial output. This essay explores the critical role of MSMEs in India’s economic development, the challenges they face, and the strategies needed to bolster their growth and sustainability.
The Role of Micro, Small, and Medium Enterprises (MSMEs) in India’s Growth
Micro, Small, and Medium Enterprises (MSMEs) are often referred to as the backbone of the Indian economy. They play a pivotal role in driving economic growth, generating employment, fostering innovation, and contributing to the country’s industrial output. This essay explores the critical role of MSMEs in India’s economic development, the challenges they face, and the strategies needed to bolster their growth and sustainability.