Emerging challenges of entrepreneurial growth in indian micro, small & medium enterprises (MSMES)

In India MSMEs form the backbone of its manufacturing sector and has become the growth engine of Indian economy. Unfortunately, the MSMEs sector is showing negative growth for the first time in the last 15 years, indicating impact of global recession on Indian economy. MSMEs may be the Indian economy backbone but that hasn't stop the unit from facing tough times. According to the ministry of small scale industries, more than 300000 SMEs have been sick since March, 2000. Poor finance access, low level of Research & Development facilities, the inability to adapt to changing trends, the non-availability of technically trained personnel, lack of management skills are further hurting the business enterprises. This paper will highlight the various emerging challenges of entrepreneurial growth, in Indian scenario and emphasize on the various measures to deal with those challenges for the furtherance of economic growth..