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Role MSME Act 2006 in Promoting SSIs in Malappuram: An empirical study of Manjeri Municipality, Kerala, India

Author Affiliations

  • 1 Dept. of Applied Economics, Cochin University of Science and Technology (CUSAT), Kochi, Kerala, INDIA

Int. Res. J. Social Sci., Volume 2, Issue (9), Pages 11-18, September,14 (2013)

Abstract

Micro, Small and Medium Enterprises sector has emerged as a highly vibrant and dynamic sector of the Indian economy over the last five decades. MSMEs not only play crucial role in providing large employment opportunities at comparatively lower capital cost than large industries but also help in industrialization of rural and backward areas, thereby, reducing regional imbalances, assuring more equitable distribution of national income and wealth. MSMEs are complementary to large industries as ancillary units and this sector contributes enormously to the socioeconomic development of the country. In the development of Indian economy and Industrial sector small industry sector have a major role to play. Small scale industries comprise 50% of Indian manufactured export, 45% of India’s industrial employment and also small scale industrial units have great role in increasing GDP.

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