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Development of Micro, Small & Medium Enterprises in India: Current Scenario and Challenges

Development of small and medium enterprises (SMEs) and micro enterprises has been accepted in India as a strategy for rapid industrialisation and also for generation of employment opportunities, particularly among the educated unemployed youth. In order to develop SMEs and micro entreprises the government adopted protective policies and implemented a number of promotional measures. The SMEs and micro enterprises developed under the protective umbrella of the government. However, the situation began to change from the early 90s.