Growth and sustainability of micro, small and medium enterprises - A study in Odisha

In today's world there is a growing and worldwide appreciating phenomenon that the micro, small and medium enterprises (MSMEs) play a catalytic role in the development process of most economies more importantly in developing economies like India. This growth gets reflected in the form of their increasing number and rising contribution in the overall product manufacturing, exports, manpower employment, technical innovations and promotion of entrepreneurial skills. The importance of MSMEs for their contribution in the growth of Indian economy is a matter of record and also it is reflected in the development of different states and region which needs no further elaboration. However, with the changing focus from economic growth to inclusive growth, MSME sector's role in the socio-economic development and its sustainability in India need to be understood, explored, maintained and facilitated. The banks and other financial institutions compete with each other in terms of policies to extend financial support to MSMEs. Also, the govt. of Odisha is facilitating the MSMEs in making provision for infrastructure and other amenities towards their sustainable growth. In view of the above, this article is an attempt to analyse growth and sustainability of MSME in terms of employment generation and growth potential in the State of Odisha.