SMEs and Economic Development

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Small and medium enterprises (SMEs) contribute significantly to eco- nomic development in terms of job creation, national output, exports and innovation. They constitute, in most economies, more than 90% of the firms. A majority of the total jobs come from SMEs in most economies. This is the case in the European Union, Asia, Africa and in every region. They are a major contributor to economic development in every economy.

In India too, this sector has a significant role to play in the economic and social development of the nation. The sector also is a nursery of entre- preneurship. With around 65 million units, they contribute around 7 per cent of the manufacturing GDP and account for 40-45 per cent of export earnings of the country.

The key aspect that is common to all the articles in this book titled “SMEs and Economic Development: VN Prasad Memorial Volume” is small and medium enterprises; their role in the economy; entreprenur- ship building and strengthenning the sector in order to consolidate its role in the overall development process.

This memorial volume has  articles and essays by experts and researchers on the topic of SMEs and Economic Development. Dr. P. M Mathew, Dr. Rajiv Agarwal, Mr. Charles Dhinakaran, Mr.Vignesh Jha,Mr. T. P Mishra, Mr. C. K Viswanath, Mr. KS Ahluwalia and

Mr. Bhavesh Jha. It also contains select articles/research works by Mr. V. N Prasad as well. Following are the articles by V. N Prasad: MSEs and Single Market; MSEs: Agenda for New Government; Make in India: Strengthen MSEs’ Support Machinery ; MSMEs: Needs to be Politically Active ; FDI in Multi- brand Retail Trading: MSE Sector Need Level Playing Field ( Joint article); Informal sector Enterpris- es vis-à-vis Competitive Environment ( Joint article). The book contains a total of 25 articles/essays on the topic.