Development Of Micro, Small And Medium Enterprises In Andhra Pradesh

MSMEs form the backbone of the Indian manufacturing sector and have become engines of economic growth in India. It is estimated that the MSMEs account for almost 90 per cent of the industrial units in India and 40 per cent of value addition in the manufacturing sector. It is increasingly recognized that the MSMEs play a crucial role in employment creation and income generation in the Asian Region. The MSMEs can be easily established since their requirements in terms of capital; technology, management and even utilities are not as demanding as it is in the case of large enterprises. Their development is closely associated with more equitable distribution of income and thus important as regards poverty alleviation. At the same time, the MSMEs serve as a training ground for emerging entrepreneurs in some of the Asian region. The full potential of the MSMEs has yet to be tapped as there are a number of constraints hampering its development. In India, state and private enterprises co-exist. The Small and Medium Enterprises sector and business are left completely to private enterprises. Of late, deve1opmet of the MSMEs has become extremely important to achieve all round development.