19. Potential Impact of Micro, Small and Medium Enterprises (MSMEs) on Agri Business

MSMEs are involved in the manufacturing, processing and production of goods and services. The SME development act was launched in 2006 and MSMEs have become an important and integral part of Indian Economy. MSMEs in India produce over 6000 unique products, contributing to about 48 percent of the nation's exports and with a 45 percent share in the manufacturing sector and stands as a backbone of the economy. They provide a great deal to the employment generation. MSMEs provide great opportunities to entrepreneurs to create and build innovative and cost effective products that increase growth of business and intern the economy. This paper deals with statutory bodies of MSME ministry, Govt. policies, MSME registration, opportunities for MSMEs in India and role of MSMEs in agriculture. In the agriculture and food sector, these enterprises are playing a key role in tackling food security, meeting consumer demand, reducing poverty through inclusive and sustainable development.