Paper Contents
Abstract
The Micro, Small and Medium Enterprises have emerged as a highly pulsating and vigorous sector of the Indian economy over the last five decades. It contributes significantly in the economic and social development of the country by nurturing entrepreneurship and creating large employment opportunities in the industrial sector of the country. The Micro, Small and Medium Enterprises Development Act 2006 of government of India have defined micro, small and medium enterprises. Initially these industries were defined based on investment limits in plant, machinery and equipment pertaining to manufacturing and service providing enterprises. These industries are production oriented. This industrial sector manufactures the products according to diversified needs of people such as manufacturing of candles, brooms, containers and equipment. This sector encourages these people to use their art in the effective manner. This is not possible in large industrial set up. These industrial units have less gestation as compared to the gestation period of large industries. In this way, MSME sector of India is the prime manufacturing hub of the industrial sector.
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Copyright © 2023 NAIB SINGH. This is an open access article distributed under the Creative Commons Attribution License.
