Contribution of Small Businesses towards Economy

The development of the IT and ITes industries has been a major factor in the spectacular change in industrial growth that has occurred in the post-liberalization era. The liberalisation era, however, demonstrated that Multinational inversion in India was endangering micro and small industries. Given that India has a large, primarily unskilled labour pool, the government of India must perfect tiny industries there. By passing MSME Act, 2006, Government has made appropriate move to establishing legislation for Micro Small and Medium Enterprise's. The report makes efforts to give a general overview of India's micro- and small enterprises and to research the effects of small businesses from 1992 to 2013