2024, Vol. 5, Issue 1, Part A
Growth and role of small-scale industries: A critical review from Indian perspective
Author(s): Dr. Santosh Kumar
Abstract: Small scale industries (SSI) include self-employed individuals involved in the production, manufacture, or provision of services on a small scale. In the post-independence period, small-scale enterprises have emerged as a significant driver of economic and social growth in India. The effective, efficient, adaptable, and inventive entrepreneurial spirit of small-scale enterprises is crucial for the development of an economy. SSI units have been widely recognized as catalysts for economic growth and facilitators of equitable development on a global scale. The impact of SSIs on the Indian economy has been remarkable in terms of job creation, mitigating regional disparities, facilitating inter-sector connections, boosting exports, and supporting fair economic development. This industry has a diverse range of approximately 6000 items, spanning from conventional to high-tech, and is distributed throughout the nation, totalling over 36 million units. It serves as a significant source of employment for more than 80 million people.The objective of this study is to analyse a range of topics within the framework of the Indian economic situation. Entrepreneurship plays a crucial role in expediting industrial expansion. Small and medium businesses (SMEs) have been identified as a viable and efficient mechanism for fostering entrepreneurship. The aforementioned industry represents a singular resolution to the challenges posed by poverty, instability, unemployment, and overpopulation in contemporary society. This article aimed to emphasize the importance of small and medium-sized enterprises (SMEs) in the economic growth of India. This statement highlights the role of SMEs in driving GDP growth.
Pages: 62-65 | Views: 160 | Downloads: 91
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How to cite this article:
Dr. Santosh Kumar. Growth and role of small-scale industries: A critical review from Indian perspective. Asian J Manage Commerce 2024;5(1):62-65.
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