New Delhi:A study of 3000 micro, small, and medium enterprises (MSMEs) conducted by Milagrow, a management partner to small and medium enterprises, shows that the sector, which contributes about 9% to India’s GDP is mired by many problems. For the purpose of the study, Milagrow included organizations whose revenues did not exceed Rs100 crores.
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-65% of MSMEs complain of infrastructure problems
-56% of MSMEs complain of price hikes of raw materials as a major cause of concern
-51% are concerned with the negative effect of bribing and corruption on their business.
The study also notes that 70-80% of MSMEs are unaware of government initiatives. However, Pravir Kumar, Joint Secretary in the Ministry of MSME, says they are trying to improve access to the various schemes that are offered. More information can be found on their website, www.msme.gov.in.