Economic Policy and The Growth of Small Scale Industries in India Kar Aryasmita1, Mohanty Nirupama2 1M. Phil. Scholar, Ravenshaw University, Cuttack 2M. Phil. Scholar, Utkal University, Bbsr Online published on 2 May, 2018. Abstract Small sector has now emerged as a dynamic and vibrant sector for the Indian economy in the recent years. MSME formerly known as Small Scale Industry (SSI) is recognised by the Government of India as a priority sector, as it paves way for rapid industrialisation. The SSI sector is an important component of industrial base of India and can be the driving force of its development efforts. Small industry is a prerequisite for balanced growth of the economy like India, which is highly populated. Small scale industries include the traditional small industries besides the modern small scale industries. The most significant aspect of small industry development is that this sector has stimulated economic activity to far reaching height. The promotion and development of SSI sector has led to employment generation and poverty alleviation. The study involves a critical analysis of functioning of some micro, small and medium scale enterprises in the country both in manufacturing and service sector and intends to identify the potentialities for growth, opportunities, major issues and challenges experienced by these enterprises. This study includes the different policy measures taken by government of India like skill India, make in India, mudra, etc. Top Keywords MSME, Industrialisation, issues and challenges, policy, employment, poverty. Top |