Small and Medium Enterprise in the Changing Economic Environment (English) 1st Edition
By: Sudhansu Siekhar Nayak, Suman Kalyan Chaudhury
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SMEs are the strength of Indian economy as well as backbone of the industrial development .They contributes more than 80% of total number of Industrial Enterprises of our country. They play a key role...Read more
SMEs are the strength of Indian economy as well as backbone of the industrial development .They contributes more than 80% of total number of Industrial Enterprises of our country. They play a key role in economic developments through various industrial activities for promotion of trade and export, to a very large extent. The SMEs are mainly the Private Sector Enterprises and as such they have greater flexibility in adopting the changes taking place in the market with more emphasis on demand and supply trends. In the era of Globaiization and Economic Reforms, SMEs cannot be silent spectator, but in fact, they are at an advantages position for making quick decision for restructuring, streamlining and diversifying their Industrial activities in accordance to the need of the-hour. SMEs Provides significant employment share as compare to the large State owned Enterprises. They also play a very significant role for development of the people in the community as they optimize the environmental skills and vocational training. The SMEs are the major player in manufacturer of variety of consumer goods, which has resulted in competitiveness, there by suppressing the monopolies of the large enterprises in the market. They provide both better services and quantities to the consumer at large.
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