1Associate Professor, Department of Management Studies, Anna University, Regional Campus Coimbatore, Navavoor, Coimbatore-641 046, Tamil Nadu, India
2Ph. D. (PT) Research Scholar-Management Studies, Karpagam University, Eachanari, Coimbatore-641 021, Tamil Nadu
3Assistant Professor-Department of Business Management, St. Joseph's Degree & PG College, Basheerbagh, King Koti Main Road, Hyderabad-500 029, Andhra Pradesh, India
4Associate Professor, Department of Computer Applications, Gnanamani College of Technology, A.K. Samuthiram, Pachal Post, Namakkal District-637 018, Tamil Nadu, India
Online published on 18 March, 2017.
Today's global scenario contributions of MSMEs are exposed to greater opportunities for expansion and diversification across the sectors. As a result Micro Small and Medium Enterprises play a vital role for the growth of Indian economy by contributing 45% of the industrial output, 40% of exports, 42 million in employment, create one million jobs every year and produces more than 8000 quality products for the Indian and international markets. The Indian market is growing rapidly and Indian industry is making remarkable progress in various Industries like Manufacturing, Precision Engineering, Food Processing, Pharmaceuticals, Textile & Garments, Retail, IT, Agro and Service sectors. SMEs are finding increasing opportunities to enhance their business activities in core sectors. The paper highlights the issues and challenges of MSME's despite their high enthusiasm and inherent capabilities to grow, SMEs in India are also facing a number of problems like sub-optimal scale of operation, technological obsolescence, supply chain inefficiencies, increasing domestic & global competition, working capital shortages, not getting trade receivables from large and multinational companies on time, insufficient skilled manpower, change in manufacturing strategies and turbulent and uncertain market scenario.
CLCSS, CGTMSE, MSMEs, NMCP & RGUMY
