Small and Medium Enterprises are also known as SMEs. These play a vital role in manufacturing industries. Almost 17% of the Indian economy’s GDP is by the contribution of these SMEs and offers employment for over 60 million people. The manufacturing industry has the second largest workforce after agriculture in India. Economic growth is seen with the increase in Small and Medium Enterprises. As compared to the service sector, the SMEs are more concentrated towards the manufacturing industry.
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| Photo source: Linkedin |
Small and Medium Enterprises contribute to 45% of the country’s industrial output and nearly 40% of the total exports. Also, 90% of the nation’s quantum of units is contributed by SME in the manufacturing sector. This level of support helps industrial bodies to have increased focus. There are a lot of policymakers and associations in India for the development of SMEs.
Here are some of the SMEs roles in manufacturing firms:
• This will advise and help the Government in policymaking, formulation and development of the manufacturing SME sector
• Extended facilities will be offered for modernization, technology up-gradation, infrastructure and quality improvement
• Through skill up-gradation and training human resources development is easier for manufacturing firms
• Economic information services will be made available
• Helps in close liaison with Planning Commission, Central Ministries, Financial Institutions, State Governments and other Organizations for the country’s development
• Co-ordinates programmes and policies for the development of large scale manufacturing industries
• Assistance or Consultancy to any prospective business and existing entrepreneurs
• Preparation of District Industrial Potential and State Industrial Profiles Surveys
• Preparation or up-gradation of Project Profiles
• Motivational Campaigns
• Entrepreneurship Development Programmes
• Production Index
• Skill Development Programmes
• Management Development Programmes
• Energy Conservation
• Ancillary Development
• Export Promotion
• Intensive Technical Assistance
• Common Facility Workshop or Lab
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| Photo Source: Linkedin |
The development of SMEs directly has an impact on the manufacturing industry. Everything ranging from raw materials to spare parts for manufacturing units is offered by these SMEs. Though at the end of the day just the manufacturing company’s brand is out in the world, there are lots of efforts put through these small and medium enterprises. SMEs are the major contributors to manufacturing firms especially in developing countries like India. Though in the statics pictures these SMEs do not come into play, they are the incubators for many well-recognized manufacturing firms. By being the backbone of a manufacturing firm, these SMEs will offer every essential required for manufacturing products. The firm at the end will involve its assembling function with the right proportion of raw material used to deliver the ultimate product to end-users.
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| Photo Source: Linkedin |
While manufacturing companies are supported on one side, equal importance and attention should be offered for the development of SMEs all over the country. There is definitely a need to look at the SMEs from both micro and macro viewpoint to understand their actual contribution to the country. To conclude, SMEs are strong supporters of economic growth and development. Also, it is essential to keep in mind; the strength of SMEs is not their numbers but the contribution to manufacturing firms. Make use of websites such as SolutionBuggy to get advice and assistance from industry experts and consultants for any SME related concerns.
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