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Small and Medium Enterprises are the driving force in industrial development,
comprise more than 90% of all enterprises in the world and are on average providing 60 to 80% of
total employment. Anecdotal evidence suggests that despite the decline in the large sector growth
rate worldwide, SME sector has managed to grow; since they are relatively flexible and can adapt
quickly to the changing market demand and supply situations. SMEs bring more diversity to economy,
facilitate technological innovation, and provide significant opportunities for the development of
new ideas and skills.
Introduction of new products in the market requires a strong product development base. India has
limited capabilities in the area of 'Product design & development'. Most of the clusters and the
SME units work on the designs or samples given to them by the domestic or foreign buyers. Broadly,
there seems to be little innovation in product design and new product development in the clusters.
However, in most countries, the availability of the technology and innovation is limited and not accessible
to small entrepreneurs. Moreover, SMEs need more innovative solutions, latest technology, machinery,
equipments, testing laboratories, finance for technology up gradation and a platform to understand and
acquire the required knowledge.
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During the present global financial crisis and recessionary trend, many companies are affected
in different degrees. But, with their inherent strength and resilience SMEs can weather adverse
situations, as they are not dependent on public money. Many overseas companies are approaching
Indian SME to out source their manufacturing activities. In service sector too, many are setting
up BPO and KPO in India, which are a real boon for the Indian SME sector.
Unless and until the SME Sector is equipped itself with the latest technologies, processes and machineries,
they will not be in a position to meet the stringent quality standards set out by the buyers. Even if they
are exploring new markets, the products and services have to be suitably modified to meet the market
requirements with innovative designs and features. It is an excellent opportunity to Indian SMEs to
convert the present global melt down condition to their advantage by catering to the needs of the
markets, which are already reeling under the recession.
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- 13 Million MSME Units
- Employ 30 Million People
- One Million jobs per annum
- Contribute 34% of Export
- Contribute 40% of Industrial Output
- Produce more than 8000 products
- Major role in industrial growth
- SSI Growth Rate 12.32%
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Ministry Of Commerce & Industry
Government of India
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| Government of Maharashtra |
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