A paper on the challenges faced by Micro, Small & Medium Enterprises (MSMEs) in India and the innovative interventions needed
The role and potential of Micro, Small and Medium Enterprises (MSMEs) in the Indian economic system, and their contribution to industrial development, are extensively acknowledged and MSMEs in India have seen a vital growth in terms of industrial output, exports, innovation and employment generation over the last two decades. Most of these companies are very small in size compared to MSMEs of developed countries, yet they have been a significant contributor to the national income. Several Studies have pointed out that the innovation capabilities and potential of Indian MSMEs are accompanied by many structural weaknesses.
The Innovators Society for Economic & Enterprise Development Studies (ISEEDS) has entered into a Memorandum of Understanding (MoU) with the Wales Centre for Advanced Batch Manufacture (CBM), a commercially focused manufacturing and research facility jointly established by the 'University of Wales' and 'University of Wales: Trinity Saint David', to undertake commercial and knoweldge tranfer activities between India and the UK.