The world is in a transition phase that demands innovative approaches to solving problems of micro and macro environment. India has major chunk of MSME segment where cluster of talent and technology can be unleashed backed by proactive policies to enhance the economic and social fabric of our nation. MSMEs are imperative for the growth of the nation and its economy. Globally, India is second after China in terms of number of MSMEs on its soil. It considers MSME a priority sector and has a fully functional ministry to look after its interests. The sector displays great diversity in terms of size of the enterprises, goods and services produced, and technology deployed. The biggest advantage of the sector is its employment potential at low capital cost. The paper throws light on various challenges being faced by SMEs in India at present and tries to find solutions to these problems, so that the SMEs become more vibrant and are able to make forays to new un-chartered areas such as infrastructure etc.
Creation of jobs, finance requirements, mushrooming of SMEs, skilled manpower technological innovation
