Growth, Challenges and Issues related to Micro, Small and MediumEnterprises (MSMEs) in Jammu and Kashmir

Abstract

Micro, Small and Medium Enterprises (MSMEs) have played an imperative role in the economic activities of advanced industrialized countries like Great Britain Germany, Japan, and the United States of America. In developing countries like India, these industries or Enterprises have an enormous importance due to its high level employment potential with low capital cost. MSMEs are also supporting in industrialization of rural backward areas. This sector is also called the nursery of entrepreneurship. This study is regarding Jammu and Kashmir (J&K) of the India, an industrial backward state of India. In J&K large scale industries are present in small numbers; only MSMEs/SSI units are growing after a long gap of disturbance. From last two decades MSMEs/SSI have been growing in a satisfactory pace as per circumstances of the state. However these enterprises are facing different hurdles in overall growth and development like poor infrastructure, shortage of electricity, political instability and financial problems. Government is outlining different policies and schemes for the growth of this sector but unfortunately failing to complete their objectives. This paper will draw attention towards Growth, Challenges and Issues related to Micro, Small and Medium Enterprises (MSMEs) of J&K.