TRANSFORMING THE INDIAN ECONOMY: THE CRITICAL ROLE OF MSMES

Author(s)	Dr. JARPULA SEVA
Country	India
Abstract	Micro, Small, and Medium Enterprises (MSMEs) are the backbone of the Indian economy, contributing significantly to employment generation, GDP, industrial output, and exports. This paper explores the transformative potential of the MSME sector in shaping a resilient and inclusive Indian economy. It delves into the theoretical foundations of MSMEs' role in economic development, assesses recent reforms and initiatives, and identifies existing challenges. By examining both qualitative and quantitative data, the study underscores how strengthening MSMEs can lead to equitable growth, reduce regional disparities, and foster innovation. It concludes with policy recommendations to enhance the sector’s productivity, competitiveness, and integration into global value chains.
Keywords	MSMEs, Indian Economy, Inclusive Growth, Economic Transformation, Entrepreneurship, Policy Reforms, Employment Generation.
Field	Sociology > Economics
Published In	Volume 7, Issue 3, May-June 2025
Published On	2025-05-08
DOI	https://doi.org/10.36948/ijfmr.2025.v07i03.43963
Short DOI	https://doi.org/g9hsjv

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