Vishwakarma Business Review

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The contribution of the MSMEs is very much important in the economic development of a country. Next to agriculture, the MSMEs play an important role in employment generation. MSMEs not only play crucial role in providing large employment opportunities at comparatively lower capital cost than large industries but also help in industrialization of rural and backward areas, thereby, reducing regional imbalances, assuring more equitable distribution of national income and wealth and leads to inclusive growth. MSMEs are complementary to large industries as ancillary units and contribute enormously to the industrial growth of the country. Fast changing economic scenario due to globalization has thrown up various opportunities and challenges to the MSMEs. While on one hand, many opportunities are opened up for this sector to enhance productivity and look for new markets at national and international levels, it has also, on the other hand, specific obligations are imposed on it to upgrade their competencies to meet the competition from global players.

Keywords

MSME, Promotional Strategies, Personal Selling.
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