A Study on Significant Challenges and Future Opportunities of Small Scale Firms towards Indian Economic Growth

Abstract

Small scale firm are the limited scope enterprises and crucial to the advancement of a country. It represents over 40% of the gross modern worth added of the Indian economy. Because of its low capital force and high work retention, the SSI area has contributed altogether to work age and provincial industrialization. With the changing monetary climate, SSIs need to manage various difficulties like huge populace, far reaching joblessness and underemployment, and absence of capital assets, among others. Accordingly, the public authority has given specific explicit offices through different arrangements and projects to tackle the issues and support the development and advancement of little organizations. The business has been very energetic and dynamic throughout recent many years. It has come to the front in the financial development of the country. This area frequently had positive development patterns, in any event, when different areas of the economy experienced either negative or ostensible development. It is notable that a flourishing limited scope area is the way to monetary development in a nation like India. Tragically, SSI is confronting various issues that have made it uncompetitive and debilitated. In this specific circumstance, this study attempts to feature the significance of SSI in Indian economy, SSI strategy and hardships of SSI in Indian economy The Small Sale firms include encounters in solidification managerial proficiency and creation of cognizance on economic values of technologies. This paper incriminates the significant challenges and future opportunities of small scale firm. An attempt is made in this paper to focus on the development of Indian economic growth. Key words: Small Scale firm, Growth on SME, Indian Economy, Sustainable development