Critical analysis of the seven components of msme ecosystem

Government of India has flagged of myriad schemes for the development of MSME sector, which acts an engine of the growing economy. With these schemes MSMEs has achieved a progressive path in the past and with the Government of India initiatives in 2020, MSME heaved a sigh of relief. With the introduction of a legislation MMED Act 2006, promotion, development and its competiveness has been achieved. To add up, inclusive growth and sustainable development needs to be adopted. Growth isn’t realized with the surface layer, but it has to percolate to the depth. Therefore the paper presents that schemes has created paradigm shift and an impact on the MSMEs growth and development. This paper explores the role of land reserved exclusively for industrial development at rural and urban areas, spurring change in entrepreneur’s percept, resulting in balanced economic growth.