Indian Economy widely dependant on MSME sectors

The indian government further plans to promote the growth of the MSME sector. The government also announced additional measures for MSME Sectors, in the Budget for the Financial Year 2013-14. The Industries in the MSME continues to non-tax benefits available for for three years even after an enterprise graduated to a higher category. IIIF ( India Inclusive Innovation Fund) is an another initiative for The MSME industries to promote them at the grass root level innovations.

Focus on regeneration of traditionally industries is also an agenda of the Indian Government and it expect that around 4 laks artisan can benefit from this schemens.

The MSME sector has been accorded high priority to with core emphasis on skill development, employability and entrepreneurship development. Accordingly the 12th Plan allocation has been substantially enhanced to Rs 24,124 crore in 12th Plan as compared to Rs 11,500 crore during 11th plan

 To promote skill development and new technologies 15 new tool rooms are being set up under the financial assitance of the world bank to provide add on benefits to MSME sectors

Some fact about MSME

• MSME Accounts for 8 per cent of the Country’s GDP
• 45 per cent of its Manufactured Output
  
• 43 per cent of our Exports