Performance and growth of Micro, Small & Medium Enterprises (MSMEs)

Micro, Small and Medium Enterprises (MSMEs), including khadi and village/ruralenterprises are credited with generating the highest rates of employment growth and account for a major share of industrial production and export. The socio-economic policies adopted by India since the Industries (Development and Regulation) Act, 1951 have laid stress on MSMEs as a means to improve the country's economic conditions. This sector comprises 95 percent of industrial units in the country, accounting for 40 percent of the total industrial production, 34 percent of the national exports and 1012.59 lakh persons of industrial employment. The small scale industry forms a dominant part of Indian industry and contributing to a significant proportion of production, exports and employment. The main theme of the paper is to evaluate growth and performance of Micro, small and Medium Enterprises (MSMEs). The period of the study is taken from year 2001–02 to 2011–12 and based on secondary data.