The Role of SME Sector in Nation Development

Indian market is growing rapidly and Indian industry is doing tremendous progress in various Industrial Fields, Manufacturing, Precision Engineering, Food Processing Industry, Pharmaceutical, Textile & Garments, Retail, IT, Agro & and Service sectors. The flow of Foreign Direct Investment in various Sectors has also enhanced during the last decade. In this industrial development, Micro, Small and Medium Enterprises play an important role in the development of the Nation contributing large number of employment, large share in Industrial output, national GDP and Exports. SMEs are the driving force and role model behind a large number of innovations and contribute to the growth of the national economy. As a result, SMEs are today exposed to greater opportunities for expansion and diversification across the sectors.