Benefits of MSME Sector in Indian Economy with special reference to Ernakulum District

Abstract

The micro small and medium enterprises have been accepted as the engine of economic growth and driving force for promoting equitable development. With its celerity and dynamism the sector has shown admirable innovativeness and adaptability to survive latest economic downturn and showing future growth opportunities. MSME promotes inclusive growth by providing employment opportunities to village areas. Obviously, these enterprises are a recourse for the unskilled, less educated and less trained workers from poverty by getting wages and it helps to increase the standard of living especially to people belonging to weaker sections of the society. This paper is to focus on benefits of MSME in village area. It is concluded that this sector significantly contributes in employment, income to society and government, GDP, skill and development among people, exports and manufacturing output.