Lifeline for many in India is the back hand support of small scale industries which are playing a crucial role in the development of nation as a whole. India being a developing country largely relies on the output and the intake of these small firms a lot. Present stats show that during the recent past their is a tremendous growth in this sector which in turns influence positively the GDP of Indian economy.Today it nearly shares 40% of the total industrial output and 35% of the total exports which is good sign for any growing economy.
The definition of small scale industry changes from time to time. Earlier it was classified into categories
The definition of small scale industry changes from time to time. Earlier it was classified into categories
- Using power with less than 50 employees
- Using no power but human strength between 50 to 10o
The traditional small scale industries are more labor intensive whereas the modern small scale industries are capital intensive which in turn uses the modern machinery and their quality of output is good. In today's scenario, most of the small scale industries in India are modern small scale industries.
NEED TO RELISH THIS SECTOR
Realizing the importance of small scale industries in Indian economy, the government is trying to develop this industry keeping in mind the following aims:
NEED TO RELISH THIS SECTOR
Realizing the importance of small scale industries in Indian economy, the government is trying to develop this industry keeping in mind the following aims:
- To increase employment.
- To prevent unequal distribution of income.
- To develop capital investment.
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