The Growth of Small Scale Industries in India

Small-scale industries in India and abroad exhibited with proficient lustiness and Adaptability in maintaining an unswerving rate of growth and employment accentuation during the global recession and economic slowdown. The Indian economy during the current fiscal years has shown considerable growth performance by contributing to creating livelihood facilities to millions of people, in amplifying the export potential and in enhancing the overall economic growth of the country. As a catalyst to the socio-economic transformation of the country, the SSI dynamically paramount in addressing the national objective of bridging the rural-urban divide, alleviate poverty and generating employment for the deserving community of the country.SSI sector encompasses almost about 80% of the total industrial units in the country. In India, SSIs occupy 36 million units, contribute to 45% of industrial production, 40% to the export sector through more than 6000 products ranging from traditional to high-tech and employs to about 80 million persons. Hence the small scale industries (SSI) in a developing country like India occupy a distinct place in the industrial structure. Given the vast potential of small-scale industries, the government has given this sector a significant place in the framework of Indian economic planning for economical as well as ideological dimensions. Definition of SSI: as a unit employing less than 50 employees, if using power, and less than 100 employees without the use of power and with a capital asst not exceeding rs.5 lakh