Small and Medium Enterprises in India
List of SMEs - Challenges & Growth on Indian economy
Small and medium enterprises (SMEs) are those businesses that generate their revenues, useful assets in a restricted way due to fewer resources employees who fall below a certain threshold. The reason behind it the limited budget in their pockets. On the other hand, large firms employ a large number of people by making use of innovative technologies and high-tech resources. Still, SMEs are the backbone of Indian economic growth more than large enterprises.
The
b2b business directories open the door of success for businesses all around the
globe. On the basis of the rate of growth of these companies, we are going to
share a small list of small and medium enterprises in India.
1. Foods and Beverages
2. IT Industry
3. Textile trade
4. Health trade
5. Construction trade
6. Handicrafts
7. Banking
8. Insurance
How SMEs affect the Indian
economy?
Once
upon a time, a large part of job growth used to arrive from the public sector.
Many times, the opposition political parties put allegations on the government
for not generating sufficient employment opportunities. And the noticeable part
was that they are now mostly using data from the public sector only.
Do
you know what is the greatest advantage of promoting small businesses? The
small and medium enterprises in India provide more employment without any
government interference. These SMEs help to boost both urban and rural growth.
You need to know that small and medium enterprises in India play a major role
in growing our Indian economy in the following ways:
●
High employment rate
●
Low poverty rate
●
The less urban-rural
income gap
●
Cut down migration
●
Urge regional
development
●
Increase exports
●
Reduce pollution levels
●
High production
●
Escalate people’s
purchasing power
●
Revamp the quality of
life
However,
it is not logistically possible for large-scale businesses to establish
themselves in small towns and rural areas. And if anyhow they manage to do so,
they restrict themselves to limited industrial and commercial zones.
Challenges in the path of
SMEs
Logistics
integration is one of the most significant challenges for small and medium
enterprises in India. The number of SMEs are increasing and this count comes
under pressure from many large enterprises who insist these SMEs amend their
old management style both operationally and organizationally.
The large organizations put pressure on small and medium enterprises in India for replacement with integrated systems to boost the speed and fluidity of workflow and manage the transactions more accurately.
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