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Showing posts from June, 2017

On MSME Day, recognizing the potential of Small Businesses in the Indian Economy

Kanika Joshi weighs in on the importance of India's micro, small and medium enterprises sector as an engine of growth and development, and suggests policy interventions that can help scale the sector's growth further. Kanika is a researcher in the MSME and Entrepreneurship vertical at IFMR LEAD. This post is the first in a series on the MSME sector.  

Small businesses are often hubs of entrepreneurship, employment and innovation, thereby playing a crucial role in the socio-economic development of any nation. In a much appreciated move, the United Nations (UN) general assembly on recently designated 27 June as Micro, Small and Medium-sized Enterprises (MSME) Day. The General Assembly invited all 193 Member States, organizations of the UN system, other international and regional organizations, as well as civil society, including non-governmental organizations, academia, individuals, to observe the day in accordance with national priorities. 

In Organisation for Economic Co-operati…