Abstract : MSMEs are a vital pillar of India's economy, regulated by the MSMED Act, 2006, and supervised by the Ministry of MSME. Recent revisions in criteria, effective since July 2020, now consider both turnover and machinery investment to categorize MSMEs. Scarce access to finance, informality among manufacturing MSMEs, technological limitations, insufficient skill development, and fierce competition—both domestically and globally—challenge their growth. Bureaucratic complexities further obstruct progress. This study deals with various challenges and issues and highlighting the pivotal role of MSMEs in India's economic landscape and offering strategies to enhance their resilience and global competitiveness.
Cite : Kumar, S., Kumar, V., & Singh, A. (2023). Understanding The Dynamics and Challenges of Msmes in India (1st ed., pp. 109-115). Noble Science Press. https://doi.org/10.52458/9789388996969.nsp2023.eb.ch-13
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