Transforming Rural Landscapes: The Vital Role of Small-Scale Businesses in India"s Progress

Registration ID: IJNRD_199910

Published ID: IJNRD2306453

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Pratima Gupta

Rural development, Micro, Small and Medium Enterprise MSMEs, Rural Economy, Growth

Micro, Small, and Medium Enterprises have been accepted as the engine of economic growth and for promoting equitable development all over the world, especially in India in view of the second most populated country in the world. Micro and small-scale enterprises have existed in rural India for ages in the form of traditional skills. Recently, rural entrepreneurship has emerged as a dynamic concept. There is a lot of scope for rural entrepreneurship in the SMEs (Small and Medium Enterprises) sector economy which plays a vital role in providing employment and income for the poor and unemployed in rural areas. As the population grows there will be pressure on land and the growth in agricultural production cannot absorb the ever-increasing rural labor force in agricultural employment. This leaves the rural non-farm sector in the form of rural SMEs to absorb those released from agriculture but not absorbed in the urban industries. The scope of rural industries is considered basically a question of properly utilizing unexploited natural and human resources and tapping vast material existing in the countryside. The features of rural industrialization are a low investment of capital, labor intensity, and the use of simple technology by employing local human and material resources. Thus, a judicious mix of local manpower with local resources is necessary to bring about a viable development in these areas. In the era of globalization, entrepreneurship development in the rural context is a challenge. According to the 2011 Census 68.84% of people are living in rural areas of India. People in rural areas suffer from unemployment, and poor infrastructure facilities which may be solved with the development of the rural entrepreneurs. "Rural Entrepreneurship be defined as entrepreneurship emerging at village level which can take place in a variety of fields of endeavor such as business, industry, agriculture and acts as a potent factor for economic development". But, these rural entrepreneurs are suffering from various problems like fear of risk, lack of finance, illiteracy, and competition from urban entrepreneurs. Rural entrepreneurs increase the standard of living and purchasing power of the people by offering employment opportunities to the people in villages. This paper is an attempt to understand the problems and challenges of rural entrepreneurship in the context of rural development in India and possible suggestions are given to overcome the problems.

Published Paper   E-Certificate

Pratima Gupta (June-2023). Transforming Rural Landscapes: The Vital Role of Small-Scale Businesses in India"s Progress. INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT, 8(6), e411-e419. https://ijnrd.org/papers/IJNRD2306453.pdf

Volume 8 Issue 6, June-2023

Pages : e411-e419

Paper Reg. ID: IJNRD_199910

Published Paper Id: IJNRD2306453

Downloads: 000122254

Research Area: Commerce

Author Type: Indian Author

Country: Agra, Uttar Pradesh, India

Published Paper PDF: https://ijnrd.org/papers/IJNRD2306453.pdf

Published Paper URL: https://ijnrd.org/viewpaperforall?paper=IJNRD2306453

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