Micro, Small and Medium Enterprises (MSMEs) as Engines of Inclusive and Sustainable Growth in India

Abstract Industrialization is inevitable to achieve economic progress of any country. In a country like India where surplus labour is available, play a remarkable role in generating employment, contributing to production, exports, reducing poverty and bringing regional balances. MSME’s contribution to around 30 percent of India’s GDP, showing its structural importance in India’s economic framework.The present study aims to analyze the MSME’s role in realizing inclusive as well as sustainable growth of India. Attempt is being made to understand the contribution of MSME sector with relation to GDP, Exports, Employment generation etc. in the present study.The progress in the participation of women and disadvantaged groups in the society in MSME ownership reveals the MSME’s role in social inclusion and equity. Hence the present study tries to examine the MSME’s performance and also understand its importance in attendingsustainable and inclusive growth.