THE ROLE OF MICRO, SMALL, AND MEDIUM ENTERPRISES IN INDIA'S ECONOMIC DEVELOPMENT: CHALLENGES, OPPORTUNITIES, AND POLICY PERSPECTIVES

Authors

  • Raghvendra Research Scholar, Department of Business Administration, Mahatma Jyotiba Phule Rohilkhand University Bareilly, India
  • Bipin Chauhan Research Scholar, Department of Commerce, Mahatma Gandhi Central University, Motihari, Bihar, India
  • Dr. Smita Dron Assistant Professor Department of Management Studies, SoEM, HBTU, Kanpur, India
  • Dr. Rashi Saxena Assistant Professor Department of Management Studies, SoEM, HBTU, Kanpur, India
  • Dr. Amit Deval Assistant Professor, Shaheed Bhagat Singh Evening College University of Delhi, India

DOI:

https://doi.org/10.29121/shodhkosh.v5.i4.2024.1614

Keywords:

MSMEs, Economic Development, India, Challenges, Opportunities, Policy Perspectives, Empirical Analysis

Abstract [English]

This paper explores the pivotal role of Micro, Small, and Medium Enterprises (MSMEs) in the economic development of India. MSMEs are essential drivers of economic growth, job creation, and innovation. Despite their significant contributions, these enterprises face various challenges that impede their potential. This study employs empirical analysis to examine the role of MSMEs, identify key challenges, explore emerging opportunities, and provide policy recommendations to enhance their impact on India's development. The paper integrates mathematical formulations to quantify the contributions and challenges faced by MSMEs, supported by data-driven insights.

References

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Reserve Bank of India. (2024). Report on Trend and Progress of Banking in India 2023-24.

National Sample Survey Office. (2024). Survey on Unincorporated Non-Agricultural Enterprises in India.

World Bank. (2024). Doing Business 2024: Measuring Business Regulations. World Bank Group.

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International Finance Corporation. (2024). MSME Finance Gap: Assessment of the Shortfalls and Opportunities in Financing Micro, Small and Medium Enterprises in Emerging Markets.

Kumar, R., & Singh, M. (2024). Digital Transformation of MSMEs in India: Challenges and Opportunities. Journal of Small Business Management, 62(2), 156-175.

Sharma, A., & Patel, K. (2024). Innovation and Export Performance of Indian MSMEs: A Panel Data Analysis. Research Policy, 53(5), 104231.

Gupta, N. (2024). Sustainable Practices in Indian MSMEs: Drivers and Barriers. Business Strategy and the Environment, 33(4), 1820-1835.

Singh, R., & Kumar, A. (2024). Impact of Government Policies on MSME Growth: Evidence from India. Small Business Economics, 62(3), 687-705.

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Published

2024-04-30

How to Cite

Raghvendra, Chauhan, B., Dron, S., Saxena, R., & Deval, A. (2024). THE ROLE OF MICRO, SMALL, AND MEDIUM ENTERPRISES IN INDIA’S ECONOMIC DEVELOPMENT: CHALLENGES, OPPORTUNITIES, AND POLICY PERSPECTIVES. ShodhKosh: Journal of Visual and Performing Arts, 5(4), 1–12. https://doi.org/10.29121/shodhkosh.v5.i4.2024.1614

Issue

Vol. 5 No. 4 (2024): Volume 5 Issue 4 April - 2024

Section

Articles

License

Copyright (c) 2024 Raghvendra, Bipin Chauhan, Dr. Smita Dron, Dr. Rashi Saxena, Dr. Amit Deval

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