Understanding the Issues and Performance of Small Scale Industry Sector in India

A comprehensive analysis of the small scale industry sector in India

Abstract

Small scale industry is commonly recognized as a strong instrument for socioeconomic growth and healthy sectoral development. Among the distinct attributes of small scale industry would be that the improvement of these industries would develop broader employment opportunities helping entrepreneurship along with abilities development and ensure much better use of limited financial resources and ideal technology. The contribution of SSIs to the Indian economy in phrases of employment development, reducing regional imbalances, promoting inter-sectoral linkages, magnifying exports and fostering equitable economic growth potential continues to be rather marvellous. This sector through over 6000 goods which range from conventional to high tech, consisting more than thirty-six million models commonly dispersed throughout the nation offers work to more than eighty million persons, contributes approximately 8 to country's GDP except accounting for 45 of manufactured output as well as 40 to the export from the nation.