THE MSME SECTOR'S CONTRIBUTION TO THE INDIAN ECONOMY: A STUDY WITH PARTICULAR REFERENCE TO UTTAR PRADESH

Over the past fifty years, the Sector of Micro, Small and Medium sized businesses has grown to be one of the most vital and dynamic parts of the economy. It makes a substantial contribution to the economic and social advancement of the nation by encouraging entrepreneurship and creating a significant number of job possibilities at a relatively low capital cost, second only to agriculture. The MSMEs are expanding their sphere of influence across economic sectors and generating a wide range of goods and services to satisfy domestic and international market demands. The dream of making Uttar Pradesh 'Uttam Pradesh' seems to be coming true. Despite the global pandemic corona, the development journey of the state is moving forward continuously. Perhaps this is the reason that today Uttar Pradesh has left behind all the states in terms of providing employment in the country. The state is thought to have 89.99 lakh MSMEs, according to statistics from the 2015- 2016 National Sample Survey. West Bengal is next 88.67 lakh, while Tamilnadu is third with 49.98 lakh. This study emphasis the importance of the MSME Sector to the Indian Economy and demonstrates how crucial it is for Uttar Pradesh to support entrepreneurship in the state through supporting the MSME Sector.

___________________________________________________________________________________

 

Keywords: MSME, Entrepreneurship, Indian Economy, International Market Demands, Global Pandemic.


DOI:

Article DOI:

DOI URL:


Download Full Paper:

Download