Medium, Small and Micro Enterprises: The Indian Perspective

MSME's have a crucial role in Indian Manufacturing sector and have become engine of economic growth in India. Today, small and medium industry occupies a position of strategic importance in the Indian economic structure due to its significant contribution in terms of output, exports and employment. The small scale industry accounts for 40% of gross industrial value addition and 50% of total manufacturing exports. The present paper is a modest attempt to understand concept of SMEs their formation and significance in overall growth in India.