Paper Title
A STUDY ON IMPACT OF FINANCIAL CHALLENGES FACED BY MSME IN INDIA
Article Identifiers
Authors
Dr.C.SANKAR , Mrs.S.GAYATHRI
Keywords
Keywords: MSME, Financial Challenges, Opportunity, Government Initiatives, Technology and Remedies.
Abstract
A STUDY ON IMPACT OF FINANCIAL CHALLENGES FACED BY MSME IN INDIA ABSTRACT This Research paper aims to study about the MSME objectives, functions, challenges and how to overcome from the difficulties of MSME in India. The MSME/SME sector is one of the main players for the growth in India, which has the fifth-largest economy in the world. The 'Make in India' movement is being driven by small firms, which are the engine driving the nation's economic expansion. Additionally, MSMEs can apply for a Business Loan for MSME to cover a variety of financial requirements for their companies. This is significant because such organisations confront a variety of financial difficulties, particularly in the first stage. The socioeconomic development of the nation has been greatly influenced by Micro, Small, and Medium-Sized Enterprises. As a supplier and vendor to large firms, MSME is regarded as the "Backbone of the Indian Economy" since it provides close to 30–40% of GDP and 48% of all exports. It also creates jobs in both rural and urban areas. The Micro, Small, and Medium Enterprises (MSME) sector, which accounts for nearly half of India's exports and more than a third of the country's GDP, is a crucial component of the Indian economy. More than 1 crore MSMEs are registered on the Udyam Registration platform, according to data from the MSME Ministry. The rise of the MSME sector is essential for India's inclusive economic growth and will increase manufacturing production, employment creation, and national exports of count collateral and meaningful credit history. Some of the formidable challenges faced by MSMEs in India include lack of adequate financial literacy, difficulty obtaining timely MSME funding, and complicated regulatory processes. It's crucial to comprehend these issues and streamline MSME financing in India if India is to succeed in becoming a major economic force on the world stage. This research paper gives an outline to learn about the goals of MSME financial challenges and remedies. It is also suggested that MSME entrepreneurs should properly utilized the remedies for enhancing their knowledge and skill to overcome the challenges in the sector.
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How To Cite (APA)
Dr.C.SANKAR & Mrs.S.GAYATHRI (March-2024). A STUDY ON IMPACT OF FINANCIAL CHALLENGES FACED BY MSME IN INDIA. INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT, 9(3), e822-e828. https://ijnrd.org/papers/IJNRD2403498.pdf
Issue
Volume 9 Issue 3, March-2024
Pages : e822-e828
Other Publication Details
Paper Reg. ID: IJNRD_216389
Published Paper Id: IJNRD2403498
Downloads: 000121989
Research Area: Commerce
Country: COIMBATORE, TAMILNADU, India
Published Paper PDF: https://ijnrd.org/papers/IJNRD2403498.pdf
Published Paper URL: https://ijnrd.org/viewpaperforall?paper=IJNRD2403498
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Journal Name: INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT(IJNRD)
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