Role of small & micro enterprises in the development of emerging economies in third world-with reference to Indian SMES

Small & micro enterprises are highly significant for the economy of any country and it is more so in case of the emerging economies of the third world. Economies of such nations in particular & others in general are boosted up by these two types of enterprises. Small & micro enterprises emerged as saviours during the recession period restoring the billions & trillions of lost jobs and business activity despite slow and fragile economic conditions prevalent world over. These small & micro enterprises plays a vital role in the promotion of economic development by increasing entrepreneurial activities, creating employment opportunities and function in backward areas thereby boosting up the given economies. Small & micro enterprises have capability to create a large number of earning opportunities (though smaller & manual one), catering to a big segment of the population. This present research paper would study the role of small & micro enterprises in emerging economies and their contribution to the economic development of the country as a whole taking India as a reference.