"Empowering India's Economy: The Transformative Role of MSMEs in Driving Economic Development"

Main Article Content

Supriya G R, Roopadarshini S

Abstract

This research paper delves into the transformative impact of Micro, Small, and Medium Enterprises (MSMEs) on India's economic development, showcasing their critical role in driving growth and fostering empowerment. It provides an in-depth analysis of MSME contributions across manufacturing, services, and trade sectors, highlighting their importance in employment generation, socio-economic progress, and inclusive growth. The study emphasizes how MSMEs act as engines of innovation and entrepreneurship, particularly in rural areas, promoting balanced regional development by harnessing local resources and reducing urban-rural disparities. Furthermore, the paper explores the role of MSMEs in advancing social empowerment, creating entrepreneurial opportunities for women, youth, and marginalized communities. Despite their substantial contributions, MSMEs face challenges such as limited access to finance, technology, and complex regulatory frameworks. The paper calls for strategic interventions by policymakers and stakeholders to overcome these barriers and unlock the full potential of MSMEs. By examining their transformative influence, this study offers actionable insights to further inclusive and sustainable economic growth in India.

Article Details

Section
Articles