Title: Development of MSMEs in India: challenges vs. Govt policies

Authors: Pooja Nanda; Vikas Kumar

Addresses: School of Business Sushant University, Sector 55, Gurugram – 122003, Haryana, India ' Central University of Haryana, Jant-Pali, Mahendergarh – 123031, Haryana, India

Abstract: Micro, small and medium enterprises (MSMEs) have been recognised as a global engine for growth and employment. They are a major contributor to gross domestic product (GDP), exports and jobs, playing a crucial role in improving the socio-economic profile of a country. Thus, it is vital to increase the competitiveness of MSMEs through the creation of an efficient legal, regulatory and administrative system. This can enhance their accessibility to finance, technology and skilled human resource. Present work highlights the challenges faced by MSMEs in India and their associated impact. The aspects covered include the technology, human resource, operations and policies. These challenges have been mapped to the policies and schemes of Govt of India, which can contribute to the development of MSMEs. Need for the effective implementation of policies as well as better coverage of MSMEs have been recommended.

Keywords: MSME; MICRO; small and medium enterprise; technology adoption; Govt policy; small business; Make in India.

DOI: 10.1504/IJTPM.2023.132621

International Journal of Technology, Policy and Management, 2023 Vol.23 No.3, pp.245 - 267

Received: 17 Nov 2021
Accepted: 08 Feb 2022
Published online: 31 Jul 2023 *

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