Small enterprises rather than big corporations are driving the economic recovery4 min read 18 Apr 2016, 12:19 AM IST
New data shows that the country's MSMEs have been doing well in terms of return on equity and efficiency
India’s MSME (micro, small and medium enterprises) sector, with 48 million enterprises, contributes 37.5% to gross domestic product, provides employment to 111.4 million persons and accounts for more than 40% of India’s exports. Yet, these small units are considered inefficient compared to their large-scale counterparts. They are shackled by regulations, inadequate availability of credit and finance—especially equity capital—orthodox marketing and lack of access to global markets and adequate skills. Archaic processes and a reluctance to use information and communications technology further hobble them.
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