SMEs: Key Drivers for Growth

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Globally, SMEs’ role in development and job creation has been well recognized. In India, post-independence, SMEs gained in importance with the advent of planned economy from 1951 till 1991 as the subsequent industrial policy followed by the Government earmarked a special role for the SME segment. Due protection was accorded to the segment till 1991. SMEs always represented the model of socio-economic policies of the Government of India which emphasized judicious use of foreign exchange for import of capital goods and inputs, labor-intensive mode of production, employment generation, non-concentration of economic power in the hands of a few, discouraging monopolistic practices of production and marketing, and effective contribution to foreign exchange earning of the nation with low import-intensive operations. Small and Medium Enterprises or SMEs, as they are popularly known, have for long been an important part of businesses. Indeed, SMEs have remained a key engine of economic growth, job creation, and prosperity. However, while the process of globalization and liberalization gathers momentum across the globe, SMEs face tremendous challenges as they strive to sustain and survive. Some of the major challenges faced by SMEs include access to finance, low R&D investment, lack of access to technology, lack of product innovation and increasing competition. The book attempts to comprehensively explore the SMEs sector in India and study various aspects related to their functioning like knowledge management, supply chain management, adoption of ICT, innovative marketing strategies, role of clusters and export competitiveness that essentially help them have an edge over their competitors, face various issues and challenges and overcome these issues to emerge successfully due to the measures adopted by them.

ABOUT THE AUTHOR Amit Singh Sisodiya

Amit Singh Sisodiya is Deputy Editor with the ICFAI University Press. He holds PG Diploma in Equity Research & Analysis from the ICFAI University. He has over ten years of work experience in industries like FMCG, equity research, financial services, and academics. His articles have been published in various magazines published by the ICFAI University Press. He is also the consulting editor for The ICFAI Journal of Mergers & Acquisitions. His areas of interest include corporate strategy, financial markets, and mergers & acquisitions. He has edited a few books published by the ICFAI University Press.

ABOUT THE AUTHOR N. Janardhan Rao

N Janardhan Rao holds an MA (Economics) from Osmania University and PGDBA. He is presently working as Deputy Editor at the Icfai University Press. He is a member of Board of Editors of Icfai and also Consulting Editor of Icfai Journal of Knowledge Management, and MBA Review. He regularly contributes articles to the Chartered Financial Analyst magazine and other Icfai Publications, such as Icfai Reader and Global CEO. His articles have also been extensively published in The Financial Times column, a publication of the Times of India Group. He has also edited more than two dozen books published by Icfai Books. His areas of interest include business environment, international finance, financial markets, corporate strategy and general management.

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Bibliographic information

Title
SMEs: Key Drivers for Growth
Author
Edition
1st ed.
Publisher
ISBN
8131412762
Length
292p.
Subjects