Creating Sustainable Contribution to the Environment: Case Studies From MSMEs in Pune

Msme In India

Micro, small and medium enterprises as per MSME Act, 2006 are defined based on their investment in plant and machinery (for manufacturing enterprise) and on equipment for enterprises providing or rendering services. MSME sector has emerged as a highly vibrant and dynamic sector of the Indian economy over the last five decades. They not only play a crucial role in providing large employment opportunities at comparatively lower capital cost than large industries but also help in the industrialization of rural & backward areas, thereby, reducing regional imbalances, assuring more equitable distribution of national income and wealth. MSMEs are complementary to large industries as ancillary units and this sector contributes enormously to the socio-economic development of the country. (Mukras (2003), Westhead and Birley (1995), Yoshida (2012) and Kochar, Kumar, Rajan Subrahmanian and Tokatlidis (2006)

A rough estimate of MSME sector says that there are about 36 million units, which provide employment to over 80 million individuals in India. A TIFAC (2016) study asserts that this sector through more than 6,000 products contributes about 8% of GDP besides 45% of the total manufacturing output and 40% of the exports from the country. The MSME sector has the potential to spread industrial growth across the country and can be a major partner in the process of inclusive growth. Entrepreneurship development and training is one of the key elements for the promotion of micro, small and medium enterprises (MSMEs), especially for the creation of new enterprises by the first generation entrepreneurs