Survival Strategies for Indian SME's in the Global Market

Over the years Indian SME's have emerged as an important but vibrant sector of Indian economy. It account for about 95% of the industrial units, 40% of the industrial production, and 36% of the total exports and provides direct employment to 18 million persons in about 3.2 million registered SSI units in the country. Today, market scenario is changing very rapidly across the globe&the same is happening in India also. In India the process of liberalization&WTO regime have thrown this industrial sector to the large&giant multinational companies also posing certain challenges. At the same time it has opened up the world market&the access to it is made possible to all the companies irrespective of their status or position. Enhancing Global Competitiveness of these SME units holds the key to their future development .The necessary survival measures/strategies for improving global competitiveness is the area of discussion of this paper.