![\"innovation-economic-growth-new-employment-generation-pillars-of-msme\"](\"http:\/\/vskills.in\/certification\/blog\/wp-content\/uploads\/2014\/10\/innovation-economic-growth-new-employment-generation-pillars-of-msme-300x217.png\")
<\/a><\/p>\n“MSMEs Needs People Innovative Mindset for Inclusive growth and lead the Nation on path of Economic Boom”\u00a0<\/strong><\/p>\n <\/p>\n
Throughout the World,\u00a0MSMEs are the engine of economic development.\u00a0A MSMEs constitute over 90% of total enterprises in most of the economies and are credited with generating the highest rates of employment growth and account for a major share of industrial production and exports.<\/p>\n
In India too, MSMEs plays a pivotal role in the overall industrial economy of the country. \u00a0MSMEs in India\u00a0constitutes more than 80% of the total number of industrial enterprises. It is estimated that in terms of value generation, the sector constitutes 45% of the manufacturing output and 40% of the total export of the country and employs over 6 crore people with 30% impact on Nation’s GDP.<\/p>\n
The Need of Innovative approach is current requirement for sustainable economic growth of country, although ‘the good policies will tend to good governance’ mindset need to work upon. The Innovation is\u00a0prime most important\u00a0‘value addition’ factor in growth and development of economy.<\/p>\n
Major problems face up\u00a0by MSMEs in present scenario are\u00a0\u00a0sub-optimal scale of operation, technological obsolescence, supply chain inefficiencies, increasing domestic and global competition, fund shortages, change in manufacturing strategies and turbulent and uncertainty in market.<\/p>\n
Inspite of all above challenges faces by\u00a0MSME, The Economy Runs on Infrastructure development therefore\u00a0need of more\u00a0capital in infrastructure, Skill development ,\u00a0and efficient use\u00a0of SMAC technology\u00a0would\u00a0create better\u00a0India to ‘Make-in-India’.<\/p>\n
Japanese Model of Economic growth and technological advancement is a remarkable example in Asia. In Japan 99.7% companies are MSMEs with 70% people employed in this sector. The Japan lead the Nation with people participation in technology, Skill development and \u00a0credit based database system for Financial help to MSMEs.<\/p>\n
Check out for more information about Entrepreneur skill:\u00a0http:\/\/smallb.in\/<\/p>\n
MSMEs Rating Agency :\u00a0http:\/\/www.smera.in\/<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Innovation, Economic Growth and New Employment Generation- Pillars of MSME “MSMEs Needs People Innovative Mindset for Inclusive growth and lead the Nation on path of Economic Boom”\u00a0 Throughout the World,\u00a0MSMEs are the engine of economic development.\u00a0A MSMEs constitute over 90% of total enterprises in most of the economies and are credited with generating the…<\/p>\n","protected":false},"author":87,"featured_media":17293,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_joinchat":[],"footnotes":""},"categories":[1519,1526],"tags":[992,991,990,993],"class_list":["post-17232","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-accounting-banking-and-finance","category-foreign-trade","tag-economic-growth","tag-innovation","tag-msme","tag-new-employment-generation"],"acf":[],"yoast_head":"\n
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<\/a><\/p>\n