Growth, performance and projections — Micro, small, and medium enterprises (MSME\'s) in India: A discourse analysis

Abstract

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.