India’s manufacturing sector is growing slowly and currently commands
a substantial share in the GDP of India. With the ‘Make in India’ initiative, the manufacturing sector have been
given the required thrust and an optimal environment for growth. The MSME manufacturing sector is considered as
an important pillar of the Indian economy as it has the potential to shift and elevate the Indian workforce out of the low wage agriculture occupation.
Nearly 40% of the total output by manufacturing sector in India is shared by MSME sector with more than 115 lakh enterprises all over India with share of 7.04% GDP
Though the sector with its distinct characteristics has infinite opportunities for growth but at the same time, there are many challenges that are faced by SMEs :
Lack of Funds
Lack of Marketing Skills
Lack of Information
Poor adaptability to upcoming market trends
Non-availability of technically trained human resources
Lack of management skills
Lack of access to technological information and consultancy services
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