Give an idea of progress of MSMEs in India.
The present age is the age of dynamic and advanced technology. As a result, people’s thinking has changed a lot. So, now business enterprises are classified into micro, small, medium, and large based on the amount of capital investment, productivity, and number of workers employed. On June 16, 2006, the Government of India passed the Micro, Small and Medium Enterprises Act.
The National Small Industries Corporation (NSIC) continues to work to help micro, small and medium enterprises (MSMEs) of the country. The purpose of this corporation is to assist in the marketing of small-scale industrial products in domestic and foreign markets. In some cases, it also arranges direct sales. As a result, micro, small and medium enterprises (MSMEs) have expanded considerably in developing countries like India.
Any business needs money to run smoothly. Micro, small and medium enterprises are plagued with financial problems. The National Small Industries Corporation has established a link-up of small industries with eight state-owned commercial banks so that the banks provide loans on easy terms. As a result, the micro, small and medium enterprises industries have been largely mitigated by financial crisis. For which all these industries have progressed.
Technical support is more important than economic and marketing systems in micro, small and medium enterprises. Technical knowledge is high in demand, especially in raw material testing and product design of manufactured goods, energy and environmental services. Different departments of the state and central government have helped the small-scale industries in various ways. As a result, these industries have also developed within the country.
District Industries Center was established in 1978 for the development of small-scale industries. The main function of the District Industries Center is to identify potential local entrepreneurs. These industries centers maintain regular contact and hold village panchayat-based group discussions to sensitize local entrepreneurs on various aspects of small-scale industries. As a result, various small-scale industries have developed in the districts of West Bengal and they are gradually improving.
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