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Mounika Group

MSMEs play a vital role in employment creation, economic growth, and innovation, particularly in emerging markets. They contribute significantly to regional development and supply chains while also having the potential for international trade. Additionally, MSMEs positively impact social inclusion by empowering marginalized groups and often receive government support to foster their growth.

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8 views1 page

Mounika Group

MSMEs play a vital role in employment creation, economic growth, and innovation, particularly in emerging markets. They contribute significantly to regional development and supply chains while also having the potential for international trade. Additionally, MSMEs positively impact social inclusion by empowering marginalized groups and often receive government support to foster their growth.

Uploaded by

yadavallimadhavi2004
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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SCOPE OF MSME

1.Employment creation: MSMEs are renowned for their capacity to create jobs, particularly
in emerging markets. They frequently help lower unemployment rates by giving jobs to
people with a variety of skill sets and educational backgrounds.
2.Economic Contribution: By producing goods and services, MSMEs significantly boost the
economy as a whole. They are essential to the expansion of the GDP, export revenue, and
entrepreneurship..
3.Innovation and Entrepreneurship: MSMEs frequently serve as centers for these two
phenomena. Compared to larger firms, they possess greater agility and flexibility, which
enables them to promptly adjust to evolving market conditions and launch novel products and
services.
4. Regional Development: MSMEs are not just found in cities; they also flourish in semi-
urban and rural areas, which helps to lessen regional inequities and promote regional
development. By offering products and services that are suited to the requirements of their
communities, they frequently act as the foundation of local economies
.
5.Integration of the Supply Chain: MSMEs play a crucial role in supply chains on a national
and worldwide scale. They frequently serve as suppliers of raw materials, services, and
necessary components to larger companies.
6.Export Potential: A lot of MSMEs have the ability to engage in international trade and grow
their market beyond national borders. They can compete internationally and increase foreign
exchange profits by utilizing their agility and specialized knowledge.
Social Impact: By empowering underprivileged groups including women, minorities, and
rural residents, MSMEs frequently have a good social impact. They open doors for social
inclusion and economic advancement
.
7.Government Support and Policies: Governments frequently put plans and policies into
place that are expressly designed to encourage the expansion of MSMEs. Financial
incentives, financing availability, capacity-building initiatives, and assistance with the use of
technology are a few examples.

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