Addressing small industry’s finance drought

Abstract

Companies coming together as self help groups can overcome difficulties in credit servicing and availability The government recently released the results of a national innovation survey based on a sample of 9001 firms, mainly micro, small and medium enterprises (MSMEs) from different sectors spread across 26 States and five Union Territories.

An important report, it helps understand innovation, benchmark innovation potential, and factors affecting it. MSMEs are generally low or medium technology industries. Accordingly, innovative activities are also low which may not augur well if ‘Make in India’ has to complete globally. The country has nearly 30 million MSMEs employing nearly 60 million people, accounting for 45 per cent of manufacturing output, 40 per cent of export and 8 per cent of the GDP. Read more at: https://www.thehindubusinessline.com/opinion/addressing-small-industrys-finance-drought/article6883215.ece