Growth of Micro, Small and Medium Enterprises (MSMEs) in India and its Role in Indian Economy

Neelam Singh; Dr. O.P.Gupta

doi:10.36948/ijfmr.2023.v05i04.4590

Growth of Micro, Small and Medium Enterprises (MSMEs) in India and its Role in Indian Economy

Author(s)	Neelam Singh, Dr. O.P.Gupta
Country	India
Abstract	Through business innovations, Micro, Small, and Medium Enterprises (MSMEs) have made major contributions to the expansion of entrepreneurial endeavors. MSMEs are expanding their sphere of influence across the economy, generating a diversified range of products and services to fulfil the needs of both domestic and international markets. MSMEs are contributing to the national production, employment & exports and, economic development of the country. The present paper aimed to determine the growth of MSMEs in India and its role in Indian economy. The data of present research paper was collected by exhaustive literature survey through electronic database at Web of Science, MSME online site, Annual reports of GOI, PubMed, Scopus, Science direct etc. According to statistics from the Central Statistics Office (CSO), M/o Statistics & Programme Implementation. With 630.52 lakh estimated MSMEs companies in India, the micro sector accounts for more than 99 percent of all MSMEs. The small sector, with 3.31 lakh (accounts 0.52%)estimated MSMEs, and the medium sector, with 0.05 lakh(accounts 0.01%) estimated MSMEs, respectively, of total estimated MSMEs. 324.88 lakh MSMEs (51.25 percent) are in rural areas, whereas 309 lakh MSMEs (48.75 percent) are in urban areas, according to the estimated number of MSMEs.The contribution of the MSME sector to the country's Gross Value Added (GVA) has grown from 10.97 % in FY 2015-2016 to 12.88 in FY 2018-2019 respectively.Further the share of MSMEs in all India GDP was 29.34% in FY 2014-2015, and in year FY 2018-2019 it has grown to 30.27%. MSMEs are expanding their sphere of influence across the economy, generating a diversified range of products and services to fulfil the needs of both domestic and international markets.
Keywords	MSME, Growth of MSMEs, Indian Economy, Market of MSMEs
Published In	Volume 5, Issue 4, July-August 2023
Published On	2023-07-25
Cite This	Growth of Micro, Small and Medium Enterprises (MSMEs) in India and its Role in Indian Economy - Neelam Singh, Dr. O.P.Gupta - IJFMR Volume 5, Issue 4, July-August 2023. DOI 10.36948/ijfmr.2023.v05i04.4590
DOI	https://doi.org/10.36948/ijfmr.2023.v05i04.4590
Short DOI	https://doi.org/gsh52v

View / Download PDF File

E-ISSN 2582-2160

doi

CrossRef DOI is assigned to each research paper published in our journal.

IJFMR DOI prefix is
10.36948/ijfmr

Downloads

Research Paper Format Copyright Permission Form and Undertaking Form Cover Page Vol 6 Isu 3 Cover Page Vol 6 Isu 2 Cover Page Vol 6 Isu 1

All research papers published on this website are licensed under Creative Commons Attribution-ShareAlike 4.0 International License, and all rights belong to their respective authors/researchers.

CC-BY-SA

About IJFMR Fees & Payment Current Issue Publication Archive	Submit Research Paper Track Submission Status Publication Guidelines Publication Ethics Peer Review & Plagiarism	Join as a Reviewer Editors & Reviewers Reviewer Referral Program Get Reviewer Membership Certi.	Website/Journal Policies Usage Policy Content Policies Privacy Policy

Contact Us		+91-9898-5948-55	editor@ijfmr.com

International Journal For Multidisciplinary Research

A Widely Indexed Open Access Peer Reviewed Multidisciplinary Bi-monthly Scholarly International Journal

Growth of Micro, Small and Medium Enterprises (MSMEs) in India and its Role in Indian Economy

Share this