India needs to encourage its SME Sector

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SMEs in India

India has registered itself as the fastest growing economy of the world which is a story of the current financial year. We cannot ignore the role of SME and MSME behind the economic and social development. Let us have a brief picture of the actual fact.

Collective manufactured output – 45%

Collective employment – 6 crore people

As of now, the numbers of micro, small, and medium enterprises are 26 million in total. It is collectively contributing slightly more than 7% of India’s GDP which is at a growing rate.

Business loans for manufacturing sector

Micro enterprises are provided with the loans up to Rs.25 Lakh while the amount is above Rs.25 Lakh & up to Rs.5 Crore in case of small enterprises. However, the medium enterprises in India are provided with business loans above Rs.5 Crore to Rs.10 Crore loans.

[Also Read: 5 Tips To Help You For Starting A Business In India Successfully]

SME

Business loans for service sector

When it comes to the small enterprises, the range starts with Rs.10 Lakh and ends at Rs.2 Crore. An amount up to 10 lakh is offered as micro business loans to the micro enterprises in India, while the amount is highest in case medium enterprises. The medium enterprises are blessed with the loans above Rs.2 Crore which end at Rs. 5 Crore at the higher position.

Why India needs to encourage its SME sector?

We need to encourage and grow the SME sector for many reasons. Small and medium-sized enterprises have registered more than 8000 products that are demanded in India as well as in international market. Considered as the backbone of our economy, this sector is instrumental in contributing 40% of India’s exports which is definitely a big milestone.

One of the finest things we are supposed to do is to inspire the foreign investors for which our government is putting its cent percent. Obviously, the Government of India has taken different measures to boost up the sector, but is it enough to be an economic superpower? No, it is not! The private sector has to come up with low-interest business loans for initiating the future of aspiring people. As of now, MSME is contributing 8% to national GDP, but the percentage has to enhance enough. Backed and initiated by the government sector, Indian SMEs have been engaged in posting their growth stories in recent years, but the speed will grow when the private sector will contribute its portion. No matter it is the government sector or the private, the potential of Indian youths has to be untapped very soon; because it will push the subcontinent to be an economic superpower.

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52 thoughts on “India needs to encourage its SME Sector

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  • Ashli

    Thanks for sharing your thoughts about SME Sector.

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  • Sachin Khurana

    i like this blog… and posts are really helpful.

  • Sakshi Verma

    SME is a small part of business i would like to enhance it.

  • Alia Sharma

    SME helps to remove the unemployment that’s why i like to encourage small medium enterprises.

  • Pallavi joshi

    Through SME people getting works and earning for their families. i would like to support small medium enterprises.

  • Afsal Ali Khan

    i like to encourge it and hepls to rural area’s people.

  • Charanjeet Kaur

    i like this topic and would praise it to enhance this.

  • kajal Rathore

    SME helps to remove the unemployment that’s why i like to encourage small medium enterprises.

  • Rucchi Yadav

    Small industries are backbone of business…. they provide strength to business as a initial grow.

  • Bunty Goel

    I would like to promote SME… bcoz it is helpful to develop our economy.

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  • Varonika Vashishth

    SME has changed my view towards small industries….

  • Ishita Sharma

    SME sectors provides employment to those who needs it as in rural areas….

  • Deepika singh

    So many people got job through SME… unemployment can be removed by small industries.

  • mireyagreen

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  • Siddharth Narula

    Small industries are growing more faster than earlier. everyone wants to do work whether form home or any company….

  • Pushpa Verma

    Small industries are growing more in India & it is vry good for economy.

  • Niharika Tyagi

    To get more knowledge about SME sectors you should go in rural areas….

  • Chunky Dsouza

    Small industries helps to grow more….

  • Chetan Sharma

    Small industries also boost the confidence of rural areas people…. SME provides them work also.

  • Sanchit Maheshwari

    I got new point of view to see the small industries….

  • Garima Tiwari

    small industries helps in employment… we should boost SME.

  • Bhawna Chaudhery

    Small industries helps to grow other industries and economy…..

  • Preeti Saxena

    Considered as the backbone of our economy, this sector is instrumental in contributing 40% of India’s exports which is definitely a big milestone. we should promote Small industries.

  • VIkas Singh

    We cannot ignore the role of SME behind the economic and social development. just bcoz of SME India’s GDP is at a growing rate. it helps in reform our economy…..

  • Ankit Jain

    Small industries are beneficial for economy. i support to it…..

  • Gayatri Rana

    i like to praise SME. it helps to increase business at small level.

  • Lavnish khanna

    It is important to our society and economy bcoz it gives employment to rural areas.

  • Shikha sadhavi

    i would like to promote or encourage to SME.

  • Sneha Shah

    Small industries hepls to develop their economy…. we should motivate small medium enterprises .

  • Yuvraj Kapoor

    SME gives the new thoughts to large industries sometimes large industries forfeited the small businesses to enhance their work…. so it is necessary to encourage SME sectors.

  • Nitibha shrama

    people are getting work through SME so its help to remove unemployment…. and would be in large scale of industries.

  • monika

    SME helps to grow people’s thinking and encourage them toward world…

  • Natasha jain

    Small medium enterprises are the basic need of small industries… it would be helpful for developing country.

  • khushi Gupta

    SME sectors are going to be a part of business, it helps to commence the business & provide growth to economy…..

  • Rahul Kumar

    Really Interesting Blog post..

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