Perplexity is the beginning of knowledge ! Lets start from here..
Small and medium enterprises are the backbone of industrial development. The contribution
of small scale industries (SME’s) has been remarkable in the industrial Development
of the country. In terms of Employment generated, this sector is next only to agriculture
Employing approximately 14 million people. . Overall, the small industry sector
has done quite Well and has enabled the country to achieve considerable industrial
growth and diversification In addition, it is highly and has a scope for labor Intensive
for building upon the traditional skill and knowledge.
Major strength of Small Medium
Enterprises observed are flexibility, owner management, inexpensive labor, less
overhead and favorable capital- output ratio.
The importance of the SME sector is
well recognized the world over using to its significant contribution in achieving
various socio economic objectives. The SMEs today contributes a very important segment
of the Indian economy as well as the state economy. Many states in India are considered as the
most desired industrial location with the major contribution of production and employment
it has become an integral part of today’s state economic growth. Service sector
is one of the fastest growing industries and it has witnessed a record rise in output
in the past few years.
Service sector industries contribution over 62% of total
employment in the state. Thus you are the strength and backbone of this modern economy.