An Analysis of Growth of MSMEs in India

Abstract

Growth of every economy in the world depends on the performance of the industrial sector. Micro, small and medium Enterprises (MSMEs) play a significant role in the growth of each economy. There is a huge unorganised sector of MSMEs in India, which comes from those industries that are not registered under the MSME platform. Data related to MSMEs are required to check the growth and analyse the performance of MSMEs and collect the data related to growth, while it is necessary that all the MSMEs must be registered on a common platform. Thus, the Indian government forces industries to register on the MSME portal to get the benefit of government schemes. The study on the growth and future prospectus of MSME units registered under Entrepreneurs Memorandum (EM-II) and Udyog Aadhar Memorandum (UAM) is hardly available. Therefore, this research exclusively emphasises on the growth and future prospects of registered units of MSMEs in India. Data involving registered units of MSMEs are analysed for the period from 2007–2008 to 2020–2021. Data are obtained from MSME online portal and annual reports of this sector. Future projection of registered units of MSMEs is figured out by applying projected technique.