Inclusive development through micro, small and medium enterprises

Small enterprises in India have been flourishing despite a challenging environment. The Government is taking steps to strengthen the sector as it not only contributes significantly to employment generation but also contributes to the nation's economy. The government has launched many programmes to reorient the sector for scaling up the economic activity in the sector. For rejuvenating this sector some financial and technical initiatives have also been undertaken. These include re-implementation of Public Procurement Policy, MUDRA Yojana, Make in India, Startup India, and Skill India. These initiatives are aimed at empowering the sector so that it grows strongly and its share in GDP increases. The implementation of GST Bill in 2017 is a landmark step towards eradicating indirect taxes, creating more transparency in tax process and also in contributing to business growth in unconventional sectors as well.

Small enterprises can play a big role in making India self-reliant by an innovative approach and power to use cheap and local resources. They act as low-cost alternatives to the corporate, relying solely on their expertise in their niche, unique manufacturing process and ability to bring about innovation. Provided with the right support at the right time, small enterprises in India can not only spearhead growth of the Indian industry, but also help cut its high dependence on costly exports.