2025, Vol. 6, Issue 1, Part D
Empowering growth: Unveiling the dynamic role of MSMEs in fuelling India's economic progress through employment
Author(s): Caroline Priya Martin and Dr. Krishnakumar Krishnasamy
Abstract: This study provides a comprehensive analysis of the pivotal role played by Micro, Small, and Medium Enterprises (MSMEs) in driving India's economic growth and fostering socio-economic development. Drawing upon extensive research and empirical data, the analysis highlights the significant contributions of MSMEs to India's Gross Domestic Product (GDP), employment generation, and export performance. Through a historical overview and examination of key indicators, including Compound Annual Growth Rates (CAGRs) for GDP share and employment, this study underscores the resilience and adaptability of the MSME sector in navigating diverse economic landscapes. Despite facing challenges such as financial constraints, inadequate infrastructure, and regulatory compliance burdens, MSMEs continue to demonstrate their capacity to innovate, create employment opportunities, and contribute to India's socio-economic progress. The findings underscore the importance of concerted efforts to address these challenges and foster an enabling ecosystem for MSMEs, thereby unlocking their full potential and realizing India's vision of inclusive and equitable growth. MSME have been spread in a wide range around the country anyone with potential and a little resource can be an entrepreneur you need not have to have giant buildings for it. MSME is said to be the growth engine of ‘NEW INDIA.
Pages: 330-339 | Views: 91 | Downloads: 55
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How to cite this article:
Caroline Priya Martin, Dr. Krishnakumar Krishnasamy. Empowering growth: Unveiling the dynamic role of MSMEs in fuelling India's economic progress through employment. Asian J Manage Commerce 2025;6(1):330-339.
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