The Growth of Small Scale Industries in India

Small-scale  industries  in  India  and  abroad  exhibited  with  proficient  lustiness and  Adaptability  in  maintaining  an  unswerving  rate  of  growth  and  employment accentuation  during  the  global  recession  and  economic  slowdown.  The  Indian economy during the current fiscal years has shown considerable growth performance by contributing to creating livelihood facilities to millions of people, in amplifying the export potential and in enhancing the overall economic growth of the country. As a catalyst to the socio-economic transformation of the country, the SSI dynamically paramount in addressing the national objective of bridging the rural-urban divide, alleviate poverty and generating employment for the deserving community of the country.SSI sector encompasses  almost about 80% of the total industrial units in the country. In India, SSIs occupy 36 million units, contribute to 45% of industrial production,  40%  to  the  export  sector  through  more  than  6000  products  ranging from traditional to high-tech and employs to about 80 million persons. Hence the small  scale  industries  (SSI)  in  a  developing  country  like  India  occupy  a  distinct place in the industrial structure. Given the vast potential of small-scale industries, the government has given this sector a significant place in the framework of Indian economic planning for economical as well as ideological dimensions.

Definition  of  SSI:  as  a  unit  employing  less  than  50  employees,  if  using  power, and less than 100 employees without the use of power and with a capital asst not exceeding rs.5 lakhs