Growth and Future Prospects of MSME in India

In recent years, the significance of MSME has been recognized in the world's countries for its ma jor contribution in various socio-economic objectives such as higher economic growth and employment, output, nurturing entrepreneurship and encouragement and support for exports.MSME play a vital role in the industrial development of any country.The MSME sector is a backbone of Indian economy for its contribution to growth of Indian economy.This sector is very much important for moves towards a faster and inclusive growth of country.The MSME sector can help for achieving the target of Nation Manufacturing Policy that manufacturing should contribute 25% in India's GDP by 2022.For that purpose, the government of India has taken a good initiative of "Make in India".This paper is to focus on performance of MSME & growth and opportunities.It is concluded that this sector significantly contributes in employment, exports and manufacturing output.