In India, the Micro and Small Enterprises (Mses) Sector Plays a Pivotal Role in the Overall Industrial Economy of the Country. It Is Estimated That in Terms of Value, the Sector Accounts for About 39% of the

Topics: Small business, Business, Entrepreneurship Pages: 36 (11530 words) Published: July 12, 2011
The importance and contribution of the SME sector to the economic growth and prosperity is well established. Their role in terms of employment creation, upholding the entrepreneurial spirit and innovation has been crucial in fostering competitiveness in the economy. Towards meeting the National developmental objective of a growth rate of over 8% on a sustained basis, it is imperative for the industrial sector to grow at a faster pace supported by a vibrant SME sector. Towards this, Government’s policy initiatives like enactment of the new Micro Small and Medium Enterprises Development Act, 2006, pruning of reserved SSI list, advising FIs to increase their flow of credit to the SME sector, are all initiatives towards boosting entrepreneurship, investment and growth.| | With the bridging of the information gap on the SME sector attempted through periodical census, formation of CIBIL and SMERA, policy makers prescription has been to make information available to the lenders to not only extend financial support to creditworthy SME units and to approach proactively SME units in initial stages of development. Providing quality information is particularly essential in this era of globalisation wherein Indian SME sector face competition from domestic players as well as from imports. There exists further scope for increasing their export potential, market share in domestic market and them achieving status of serious players in the ‘Global Value Chain’. Access to finance and capital are the key resources for improved competitiveness and effective operations of SMEs. Providing support to SMEs in this critical area has been the raison d’être of SMERA. It has been our commitment to develop a strong and vibrant SMEs segment that acts as the backbone of India’s industrial sector. SMERA has been contributing to this goal by providing ratings to these firms, to enable their sustained and vibrant growth. SMERA recognises this potential of the SME segment and the benefits it holds for our nation.It is in this context SMERA, jointly with Dun & Bradstreet India, is proud to launch the publication series, Emerging SMEs of India.The high fragmented nature of the SME segment makes availability of information difficult. A one-point reference document listing SMEs was imperative at this juncture. We hope to fulfil this long felt need. The publication has attempted to provide critical information on 370 companies and provide a concise profile of their activities. It aims to bring out the best SMEs and project them before domestic corporates outsourcing their needs to SMEs and also potential importers on the lookout for reliable SMEs to source their requirements. The current endeavour is an effort to fill the void and provide Indian SMEs a platform where they can interact, learn and do networking with stakeholders in associated events together with brand building. We are sure that this publication will benefit many individuals, banks, corporates, government institutions and agencies that provide support and promote the SMEs. Through this pioneering initiative, SMERA re-dedicates itself to serving the small and medium enterprises of India.|

The Ministry of Small Scale Industries (SSI) is a defunct Indian government ministry. It was merged with the Ministry of Agro and Rural Industries to form the Ministry of Micro, Small and Medium Enterprises. The ministry was tasked with the promotion of micro and small enterprises (MSEs). The Ministry of Small Scale Industries and Agro and Rural Industries (SSI&ARI) was created in October 1999. In September 2001, the ministry was split into the Ministry of Small Scale Industries (SSI) and the Ministry of Agro and Rural Industries (ARI). The Ministry of Small Scale Industries merged with the Ministry of Agro and Rural Industries to form the Ministry of Micro, Small and Medium Enterprises in 2007 The Small Industries Development Organization (SIDO) was under the control of the ministry, as was the...
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