Journal of Applied Management-Jidnyasa, Volume 10, Issue 2, 2018

STATUS OF MSMEs IN INDIA: A DETAILED STUDY

1
Rashmi Khanna
2
Dr. Satyendra.P.Singh

ABSTRACT

Micro, Small and Medium Enterprises popularly known as MSMEs, are the roots of growth
of industrialization in a country. MSMEs, post-independence, have emerged as dynamic and
vibrant sector of Indian economy. MSMEs play a significant role in elimination of economic
backwardness of rural and underdeveloped regions of the country, assist big industries in
their growth, and help in making the best use of various resources of the country. MSMEs are
major source of employment in many areas of the country and are contributing immensely in
the prosperity of the area thus leading to reduction of disparities in income, wealth and
consumption. MSMEs sector has a major role in Indian economy as it has around 45% share
in national industrial output, around 70% in industrial employment and approximately 40% in
exports.
This paper is an attempt to study the current status of micro, small and medium enterprises in
the country. Performance of MSMEs after liberalisation and their future prospects have been
studied in detail. Researchers have also tried to find out major problems and challenges being
faced by MSMEs in India. Important policy initiatives taken by government and various
schemes started for the growth of MSMEs in India have also been discussed in the paper.

KEYWORDS: Micro, Small and Medium Enterprises (MSMEs); Small Scale Industries
(SSIs); NSIC; SIDBI; MSME Act 2006

INTRODUCTION

MSMEs in India have emerged as a vibrant and dynamic sector of the economy. MSMEs
form an important line for the Indian Industrial sector. They play an important role in the
economy in terms of manufacturing output, employment generation and exports. The
entrepreneurs in this sector with their intelligence and hard work try to make the best possible
use of opportunities that are available. MSMEs focus on smaller markets, have lower
investments and lead to effective mobilisation of resources and equitable distribution of
national income.
MSMEs are important support for the economy as they lead to the growth of economy with a
vast network of over 30 million units, creating employment of about 70 million, and
manufacturing more than 6000 products. As the country moves towards the growth agenda,

1
Research Scholar, School of Management, GD Goenka University,
Gurgaon.Email:[email protected]
2
Associate Professor, Amity School of Business, Amity University, Noida.
Email:[email protected]

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Journal of Applied Management-Jidnyasa, Volume 10, Issue 2, 2018

MSME sector effectively contributes in achieving the target of raising the GDP. Today
MSMEs are present across sectors, forming the formidable component of the country‟s
outstanding economic growth.
MSME sector is a combined name given to three different types of organisations i.e. Micro,
Small and Medium Enterprises. As on date following are criteria for defining these
organisations:
Classification of Micro, small and Medium Enterprises in India
Type of Firm Manufacturing Sector Service Sector
(Investment in Plant and (Investment in Equipment)
Machinery)
Micro Enterprises Does not exceed Rs 2.5 Million Does not exceed Rs 1.0
Million
Small Enterprises More than Rs 2.5 Million but More than Rs 1.0 Million but
does not exceed Rs 50 Million does not exceed Rs 20
Million
Medium Enterprises More than Rs 50 Million but More than Rs 20 Million but
does not exceed Rs 100 Million does not exceed Rs 50
Million.

Source: Government of India, Ministry of Micro, Small and Medium Enterprises

REVIEW OF LITERATURE
Large number of studies has been conducted in India on various aspects related to MSMEs.
Researchers have made a sincere and intense attempt to study relevant literature on the topic.
Some important studies are as follows:
Sen, Salim (2016) conducted a study to deal with high regional disparity in the growth of
MSME sector. Realizing the importance of this sector, Government of West Bengal along
with Government of India introduced certain schemes to solve the issues of high cost of
credit, staffing, planning, and inadequate infrastructure facilities. Vasa (2016) conducted a
research on some selected industries of chemical, pharmaceutical and textile sector of India
and China and their impact on the performance of SMEs of these sectors. However, till now
there are some problems associated with MSMEs, like lack of capital sufficiency, lack of
entry to global market, high cost of credit, problems of stuffing, planning and product
display, and inadequate infrastructure facilities etc.
N. Aruna (2015) conducted a study to identify the problems faced by enterprises due to
which the growth of enterprises is affected, in turn affecting growth of the country. Further,
the data collected revealed that overall globalised business environment of India has been
favourable for the growth of micro and small-scale industries. Simple and clear policies and
acts are to be made so that these enterprises can understand them and utilize as well as
implement them in business for compliance and secure benefits. There are many government
schemes but from the study it was observed that most of these enterprises are not aware and
do not understand how they can benefit out of them.
Goel, Prakash (2014) conducted a study to understand, analyse and interpret role of Micro
enterprises in rapid growth of Haryana. Four economic parameters namely no. of units,
investment, employment and production have been used as yardsticks to gauge or evaluate

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Journal of Applied Management-Jidnyasa, Volume 10, Issue 2, 2018

the contribution of the micro-enterprises in improving the financial health and economic
scenario of the state. To ensure implementation of the policies and programmes for micro
enterprises, we need good governance which means SMART (SIMPLE, Moral, Action
Oriented, Responsive and Transparent) administration. Kavitha, Sangeetha (2014) explored
the conditions of small enterprises in Tirupur. Growth of industries in Tirupur has also faced
many problems in its journey in terms of industrial organization, city infrastructure,
electricity deficit, export procedures, workforce organization, Government policies, and
pollution and so on. This study attempts to analyse various problem for exporters in Tirupur.
The major problems of competition, raw materials supplies, power shortage etc. are being
encountered and need to be addressed by government by devising suitable policies and
strategies. Chandraiah, Vani (2014) concluded that MSME sector faces key challenges like
non-availability of adequate and timely credit, high cost of credit, collateral requirement,
limited access to equity capital, procurement of raw material at a competitive cost etc. It
includes measures addressing concerns of credit, fiscal support, cluster-based development,
infrastructure, technology and marketing etc. Ali and Husain (2014) conducted a study to
present the status of MSMEs in India. There are situations where there is need of credit from
banks, rural sector facing competition from the multinational companies, lack of knowledge
in technology due to non-availability of effective training and skill development programs
etc. Foreign banks are not taking so much interest in sanctioning loan to the MSME sector.
Jessica, Marimuthu (2013) identified the difficulties of textile companies facing challenges
from the general manager‟s point of view on financial sustainability of selected textile
companies in Tamil Nadu. Srinivas, K T (2013) showcased that for the development of
India, there is a great need for development of MSMEs. He conducted research for
understanding the concept of MSMEs and their requirements, proper utilisation of financial
aids provided to MSMEs etc. in the state of Karnataka. Gupta and Agarwal (2013)
conducted a study on various schemes for MSMEs with special reference to SIDBI. It
focussed on various financial and non-financial assistance provided by SIDBI to MSMEs.
Rao and Apparao (2013) studied MSMEs contribution to GDP, employment and the role of
MSMEs in the supply chain for large businesses. They found that most of the MSMEs in
rural areas face the problem of shortage of finance to advance business growth. MSMEs
require lot of setup capital, liquid capital, investment capital to survive and grow in this
competitive business world. Yadav (2013) explored that MSMEs after their maximum use of
trade credit approached commercial banks for short term borrowings. The owner‟s funds in
these industries due to limited access to the market, are short in supply. Shihabudheen N.
(2013) conducted a study on the benefits and objectives of MSMEs Act 2006. The act is to
provide facilities to MSMEs for the development of the enterprises to enhance
competitiveness. The study was important to know the impact of MSME act on SSI Units,
and to suggest the measures for the enhanced performance. Special funds were created for
promotion, development and enhancing competition, progressive credit policies for micro and
small enterprises. Both primary and secondary data have been used in the study.
Kumar, Gugloth (2012) conducted a study on the importance and performance of Micro,
Small and Medium Enterprises in India. The target of this paper is to analyse financial
support for MSMEs. The study further analyses the importance of working capital
management in the success of small businesses. Suresh and Mohideen (2012) tried to bring
the focus on the biggest challenge of MSMEs i.e. access to non-debt based and non-
traditional financial products such as external commercial borrowings, private equity,
factoring etc. The most critical problem faced by this sector is absence of equity capital. The
present scenario in India for MSMEs is archaic; it does not focus on revival of SMEs. Lahiri
(2012) studied the reasons for lack of sufficient funds for meeting the credit needs of

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Journal of Applied Management-Jidnyasa, Volume 10, Issue 2, 2018

MSMEs. Lahiri critically analysed the impact of Micro, Small and Medium Enterprise
Development (MSMED) Act, 2006 by analysing the opportunities and threats of MSMEs in
India during the liberalization period and Impact on the performance of MSMEs in India
during the pre-and post-liberalization period. Lahiri observed at what level the Government
should intervene to close a sick MSME unit. The second issue is about the relative priorities
of different parties associated with MSME units like owners, shareholders and employees, in
case of conflict. Another major problem for MSMEs is their less capacity of collective
bargaining in the credit market.
Shastri, Tripathi and Ali (2011) in their article “Liberalization and its impact on small scale
industries”, showcased the impact of liberalisation on SSIs. MSMEs are facing both the
challenges and opportunities. They need to compete on cost, quality and products both
internationally and domestically. This can be met if and only if ideal investment in
technology, production process, and effective marketing is made. Mapdar (2011) showcased
the major challenges faced by the handloom owners and designers. The research has brought
out various aspects that have strategic and policy/managerial implications. The study is
related to production related issues, financial aspects, and management practices. Getting
irregular credit facilities, lack of knowledge of raw material, price fluctuations of cotton,
infrastructure problems etc. are some major challenges faced by the rural MSMEs in the
textile clusters in West Bengal.
OBJECTIVES OF STUDY
The study has been conducted keeping in mind two important objectives:
 To study the performance of the MSMEs in India and their growth prospects
 To find out various problems and challenges being faced by MSMEs in India

RESEARCH METHODOLOGY

To achieve these research objectives, secondary data related to various parameters have been
collected and analysed. The data have been collected from various reports and official
websites of relevant agencies
EVALUATION OF PERFORMANCE OF MSMEs
Number of Entrepreneurs Memorandum-II filed by MSMEs at DICs under Various
State/UT Commission rates/Directorates of Industries during 2007-08 to 2014-15

No of Entrepreneurs
Memorandum-II
Year Filed (in Lacs)
2007-08 1.73
2008-09 1.93
2009-10 2.13
2010-11 2.38
2011-12 2.82
2012-13 3.23
2013-14 3.63
2014-15 4.25

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Journal of Applied Management-Jidnyasa, Volume 10, Issue 2, 2018

NO OF ENTREPRENEURS MEMORANDUM -II FILED

4.5
4
3.5
3
2.5
4.25
2 3.63
3.23
1.5 2.82
2.13 2.38
1 1.73 1.93

0.5
0
2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15

Source: Annual Report 2015-16, Ministry of Micro, Small and Medium Enterprises, Government of
India.www.msme.gov.in

Number of Entrepreneurs Memorandum-II Filed by Type of Enterprises

Year Micro Small Medium Total

2007-08 1,53,110 16,730 467 1,72,703
2008-09 1,70,262 18,792 702 1,93,026
2009-10 1,85,180 23,870 1,409 2,13,206
2010-11 2,05,112 29,125 1,263 2,38,429
2011-12 2,42,539 34,225 2,949 2,82,428
2012-13 2,75,867 41,502 5,449 3,22,818
2013-14 2,96,526 59,127 7,338 3,62,991
2014-15 3,46,206 70,933 8,219 4,25,358
2015-16 1,15,540 14,582 571 2,17,854

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400000

350000

300000

250000
Micro
200000
Small
150000 Medium

100000

50000

0
2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16

Source: - The State/UT Commission rates/Directorates of Industries & MSME-Development

Institutes

Status of MSME Units in Terms of Employment and Investments

S.No Year Total Working Employment Market value

Enterprises (in (in Lakh) of Fixed assets
Lakh) (in crores)
1 2006-07 361.76 805.23 868,543.79
2 2007-08 377.36 842 920,459.84
3 2008-09 393.7 880.84 977,114.72
4 2009-2010 410.8 921.79 1038,546.08
5 2010-2011 428.73 965.15 1105,934.09
6 2011-2012 447.64 1011.69 1182,757.64
7 2012-2013 467.54 1061.40 1268,763
8 2013-2014 488.46 1114.29 1363,700.54
9 2014-2015 510.57 1171.32 1471912.94
Source: Annual Report on MSMEs 2015-16

Performance of MSME sector is assessed by conduct of periodic All India Census of the
Sector. The coverage and scope of MSME sector was broadened significantly under the
MSMES Act, 2006, which recognized the concept of “enterprise” and to include both
manufacturing and services sector, besides defining the medium enterprises under MSME
sector. It is clear from the table above that number of enterprises, employment and
investment in fixed assets in India show an increasing trend over the period of time. From FY
2006-07, figures include activities of wholesale/retail trade, legal, education & social
services, hotel & restaurants, transports and storage & warehousing (except cold storage) for
which data were extracted from Economic Census 2005, Central Statistics Office, M/o SPI.

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Number of enterprises and employment registered an annual growth of 14% approx. whereas
the value of fixed assets and output witnessed a growth of 20% approx.

Total Working Enterprises (in Lakh)

600

500

400

300

200

100

0
2006-07 2007-08 2008-09 2009-2010 2010-2011 2011-12 2012-13 2013-14 2014-15

Employment (in Lakh)

1400

1200

1000

800

600

400

200

0
2006-07 2007-08 2008-09 2009-2010 2010-2011 2011-12 2012-13 2013-14 2014-15

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Journal of Applied Management-Jidnyasa, Volume 10, Issue 2, 2018

Market value of Fixed assets

16,00,000.00

14,00,000.00

12,00,000.00

10,00,000.00

8,00,000.00

6,00,000.00

4,00,000.00

2,00,000.00

0.00
2006-07 2007-08 2008-09 2009-2010 2010-2011 2011-12 2012-13 2013-14 2014-15

Contribution of MSME Sector in the Gross Domestic Product

As per the revised methodology suggested by CSO, MoSPI, on the basis of the data on Gross
Domestic Product (GDP) published by CSO, MoSPI and final results of the latest Census
(Fourth Census), the estimated contribution of MSME sector to GDP and Output, during
2006-07 to 2012-13, are as noted below.
Table: Contribution of MSME Sector in GDP and Output (at 2004-05 prices)

Year Gross Value of Share of Share of Overall Share of

Output of Manufacturing Service Share of MSME
MSME Sector MSMEs Sector MSMEs Manufacturing
Manufacturing in Total GDP MSMEs in in Total Output in Total
Sector (in Rs (%) Total GDP GDP (%) Manufacturing
crore) (%) Output (%)
2006-07 1198818 7.73 27.40 35.13 42.02
2007-08 1322777 7.81 27.60 35.41 41.98
2008-09 1375589 7.52 28.60 36.12 40.79
2009-10 1488352 7.45 28.60 36.05 39.63
2010-11 1653622 7.39 29.30 36.69 38.50
2011-12 1788584 7.27 30.70 37.97 37.47
2012-13 1809976 7.04 30.50 37.54 37.33
Source: 1. Fourth All India Census of MSME 2006-07
2. National Account Statistics (2014), CSO, MoSPI
3. Annual Survey of Industries, CSO, MoSPI, Annual Report 2015-16

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Contribution o MSMEs in manufacturing and Services

35

30

25

20

15

10

0
2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13

Manufacturing Sector Services Sector

Above table as well as the chart depict the contribution of MSME sector to total industrial
production and GDP over a period of seven years. There is an increased trend over the period.
MSME sector is always been a priority sector or the various policy makers for financing
which can be observed from the announcements done during the economic slowdown and
credit policies.
MAJOR PROBLEMS FACED BY MSME SECTOR IN INDIA

Various studies and reports indicate that Micro, Small and Medium Enterprises in India face
may problems and challenges. Following are the major ones:
 Lack of adequate capital and technical know how
 Lack of adequate and timely credit facilities
 Poor Infrastructure
 Collateral requirements
 Lack of access to global Markets
 Low technology levels and lack of access to modern technology
 Lack of skilled manpower for manufacturing, services, marketing, etc.
 Ineffective marketing strategy
 Low production capacity
 Multiplicity of labour laws and complicated procedures associated with compliance of
such laws.
 Delays in getting statutory clearances related to power, environment, labour etc.
IMPORTANT SUPPORT SERVICES OFFERED TO MSME SECTOR IN INDIA

National Small Industries Corporation (NSIC) is playing an important role in supporting the
MSME Sector. Following are the important support services offered by NSIC to micro, small
and medium sector enterprises in India:

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 NSIC is always providing services to MSME Sector in order to increase business and
empower the MSMEs to face competition. There is an integrated support services in
the areas of marketing, technology, finance etc.
 In order to meet the credit requirements, corporation entered into memorandum of
understanding with various Nationalised and Private Sector Banks. Arrangements are
made for credit support from banks without any cost to MSMEs.
 Marketing support is also given related to raw material distribution, tender marketing,
exhibitions, buyer seller meets, and marketing assistance scheme etc.
 Credit facilitation to MSMEs through its various credit support schemes, meeting
credit needs of MSMEs through tie ups arrangements with banks, financing
procurement of raw material & marketing activities and credit rating schemes of small
enterprises.
Source: Annual Report (2015-16), msme.gov.in
Initiatives Taken in Marketing
Marketing is an important factor for the growth of MSMEs. Big enterprises have enough
resources for marketing of their products, but MSMEs need support of institutions to have
command on these resources. The need of hour is to provide support to MSMEs by
converting challenges into opportunities. To achieve this objective various activities are
conducted such as:
 Various technology exhibitions are organised by NSIC with a view to provide broader
exposure to Indian MSMEs to support them in exploring new business opportunities.
Participation in such exhibitions helps MSMEs in exposure to international practices
and their business prowess.
 Theme based exhibitions are organised to provide marketing opportunities to MSMEs
within the country. This helps MSMEs to enhance various marketing avenues by
capturing new markets.
 Buyers and sellers meet are organised to bring government departments and MSMEs
at one place. It helps MSMEs to know the requirement of the bulk manufacturers.
 Intensive Campaigns and marketing promotion events are organised to circulate the
information about various schemes and latest knowledge of the updated technology to
improve the marketing potential of products and services.
Schemes Started by Government
 Scheme for providing financial assistance on international cooperation-
IC scheme provides financial assistance of up to 95% of airfare and space rent of
entrepreneurs. Assistance is provided on the basis of size and type of the enterprise. It
also provides assistance for common expenses of delegation like freight & insurance,
local transport, secretarial/communication services, printing of common catalogue etc.

 Scheme for providing establishment of new institutions (EDIs), strengthening the

infrastructure for EDIs under ATI scheme-
The assistance shall be provided to training institutions in the form of capital grant for
creation/strengthening of infrastructure and programme support for conducting
entrepreneurship development and skill development programmes.

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 Credit guarantee scheme-

Ministry of Micro, Small and Medium Enterprises, GoI and Small Industries
Development Bank of India (SIDBI), established a trust named Credit Guarantee
Fund Trust for Micro and Small Enterprises (CGTMSE) to implement Credit
Guarantee Fund Scheme for Micro and Small Enterprises. The corpus of CGTMSE is
being contributed by GoI and SIDBI.

 Credit linked capital subsidy scheme for technology up gradation-

The revised scheme aims at facilitating technology up-gradation by providing 15%
up-front capital subsidy to SSI units, including tiny, khadi, village and coir industrial
units, on institutional finance availed by them for induction of well-established and
improved technologies in specified sub-sectors/products approved under the scheme.

 Micro and small enterprises cluster development programme (MSE-CDP)-

This programme supports sustainability and growth of MSEs by addressing common
issues such as improvement of technology, skills and quality, market access, access to
capital, etc. It builds capacity of MSEs for common supportive action through
formation of self-help groups, consortia, up gradation of associations‟ etc. At the
same time, it aims to create/upgrade infrastructural facilities in the new/existing
industrial areas/clusters of MSEs. The programme also focuses on setting up common
facility centres (for testing, training centre, raw material depot, effluent treatment,
complementing production processes, etc.).

 Micro Finance Programme-

Government of India provides funds for Micro Finance Programme to SIDBI, which
is called „Portfolio Risk Fund‟ (PRF). At present SIDBI takes fixed deposit equal to
10% of loan amount. The share of MFIs/NGOs is 2.5% of loan amount (i.e., 25% of
security deposit) and balance 7.5% (i.e., 75% of security deposit) is adjusted from
funds provided by the Government of India

 MSME Market Development Assistance (MDA)-

The scheme offers funding up to 75% in respect of to and fro air fare for participation
by MSME entrepreneurs in overseas fairs/trade delegations. The scheme also provides
for funding for producing publicity material (up to 25% of costs). Sector specific
studies (up to Rs.2 lakhs) and for contesting anti-dumping cases (50% up to Rs.1
lakh) for individual MSMEs & associations
Source: http://msme.gov.in/sites/default/files/Sch-vol1-151214.pdf-sri.pdf
Various Other Policy Initiatives Taken by Government for MSMEs

 Ease of Registration Process of MSMEs- Udyog Aadhar Memorandum (UAM)

 Framework for Revival and Rehabilitation of MSMEs
 ASPIRE - A Scheme for Promotion of Innovation, Rural Industry and
Entrepreneurship was launched on March 16, .2015 to set up a network of technology
centres and to set up incubation centres to accelerate entrepreneurship and also to
promote start-ups for innovation and entrepreneurship in rural and agriculture based
industry.
 Public Procurement Policy for Goods Produced and Services Rendered By Micro and
Small Enterprises (MSEs).

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 E-Governance Initiatives/Digital Initiatives

Source: Annual Report (2015-16), msme.gov.in

CONCLUSION

MSMEs play an important role in creating employment opportunities, providing goods and
services at affordable costs and earning foreign exchange for the country through exports. To
make MSMEs more vigilant in their functions various initiatives have been taken by the
government. MSMEs are more likely to experience a broader outlook going forward, with
government‟s commitment to provide momentum by including it as integral part of its
industrial policy. Many experts believe that the share of MSMEs in the GDP of the country
would touch double digits by end of this decade. Entrepreneurs are the driving force behind
MSMEs and MSMEs play an important structural and dynamic role in all economies.
Although Government of India is taking large numbers of steps to promote entrepreneurship
development and the growth of MSMEs, yet a long way to go.

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