International Journal on Science and Technology

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A Study on Role of Msmes in Promoting Entrepreneurship and Employment Generation

Author(s) Dr. P. M. Shiva Prasad
Country India
Abstract Micro, Small and Medium Enterprises (MSMEs) play a pivotal role in the economic development of both developing and developed economies. In India, MSMEs are widely recognized as the backbone of the industrial sector due to their significant contribution to GDP, exports, industrial output, and most importantly, employment generation. This article examines the role of MSMEs in promoting entrepreneurship and creating sustainable employment opportunities in the Indian context. MSMEs not only facilitate self-employment but also encourage innovation, regional development, and inclusive economic growth by utilizing local resources and low-capital technologies. They act as a breeding ground for new entrepreneurs by offering flexible entry points into business activities with relatively low investment requirements.

The study also highlights how MSMEs contribute to reducing regional imbalances by promoting rural industrialization and empowering marginalized groups, including women and youth. Despite their importance, MSMEs face several challenges such as limited access to finance, technological constraints, marketing difficulties, and regulatory burdens, which affect their growth potential. However, government initiatives such as Make in India, Atmanirbhar Bharat, and various MSME support schemes have significantly strengthened this sector in recent years.

The objective of this article is to analyse how MSMEs foster entrepreneurship development and employment generation, and to understand their overall impact on economic progress. The study is based on secondary data collected from journals, government reports, and scholarly articles. The findings suggest that strengthening MSMEs through policy support, financial inclusion, and technological upgradation can significantly enhance entrepreneurship and large-scale employment opportunities in India.
Keywords MSMEs, Entrepreneurship, Employment Generation, Economic Development, Self-Employment, Rural Industrialization, Financial Inclusion, Make in India.
Field Mathematics > Economy / Commerce
Published In Volume 15, Issue 4, October-December 2024
Published On 2024-12-06
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Crossref DOI prefix of IJSAT is 10.71097/IJSAT

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