Lecturer, Department of Commerce & Business Management, University P G College, KU, Kakatiya University, Khammam, Warangal, Telangana
Small Industries (SSIs) play an important role in the economic development of our country. These industries have distinct advantages of low capital requirement, high potential for employment generation, and decentralization of industrial base and dispersal of industries to rural areas. Their significance further lies in the fact they account for about 50per cent of the total industrial production, considering the glorious historical background of SSIs and their highly significant role in promoting rural industrialization. SIS are aptly suited to our economy on economic as well as social grounds. The Small Scale Industrial sector (SSI sector) contributed about 40 percent of value addition in the manufacturing sector and about 30 percent of export (both direct and indirect). More the 118.53 lakh units (which include both registered and unregistered units) are spread all over the country producing over 7500 items and providing employment to more than 282.82 lakh persons. SSI sector has acquired a permanent place in the socio-economic development of the country during the past 50 years and constitutes an important segment of the economy and also has emerged as an engine of growth in the millennium by bringing Industrialization of rural, backward areas and reducing regional imbalance. It was also facilitated by the effective mobilization of resources and skills which might otherwise remain untapped. In view of the significant contribution of SSI Sector to the national economy
Industrialization, Economic development, Small Industries
