Functional Challenges of the Small Scale Industries - An Analytical Approach
Keywords:
Small Scale Industries, Functional Challenges, Manufacturing and Service Enterprises, MSMED (Amendment) Bill, 2015Abstract
Small Scale Industries (SSIs) plays a gigantic role in the structure of the Indian economy. The development of small scale industries is an integral part of the overall economic, social and industrial development of any country. The small scale sector has emerged over the years as a vibrant and dynamic sector of the economy. It accounts for nearly 40 percent of the gross value of output of the manufacturing sector and over 40 percent of the total exports in the country. The development of small scale industries is hampered by a variety of problems throughout the country. There are certain problems common to all types of small scale business units which can be summed up as functional and other problems. The current paper is an attempt to identify the functional and other problems, if any is faced by SSIs and the extent to which these challenges are weighing down the advancement of Small Scale Industries. The paper is mainly based on the primary data collected through the field survey. The study tries to find out the major challenges faced by SSIs and rank them using Garrett's Ranking Technique.
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