October - December 2019 ISSN: 2250-1940 (P), 2349-1647(O) Research Explorer Volume VII, Issue 25 5 Available online @ www.iaraindia.com RESEARCH EXPLORER-A Blind Review & Refereed Quarterly International Journal ISSN: 2250-1940 (P) 2349-1647 (O) Impact Factor: 3.655 (CIF), 2.78 (IRJIF), 2.77 (NAAS) Volume VII, Issue 25 October – December 2019 Formally UGC Approved Journal (63185), © Author CASE STUDY ON POLICY M EASURES FOR M SM E IN INDIA (M icro, Small and M edium Enterprises) Dr. Nalla Bala Kalyan Associate Professor Department of Management Studies Sri Venkateswara College of Engineering Karakambadi Road, Tirupati-517507 Dr. N. Naveen Kumar Department of Computer Applications Madanapalle Institute of Technology & Science Angallu (Village), Madanapalle-517325 Chittoor District, Andhra Pradesh, India Abstract The Micro, Small and Medium Enterprises (MSMEs) are fittingly regarded as the vertebrae of the Indian economy. The current critique deals with micro, small and medium enterprises policy initiatives in the Indian circumstance. Worldwide, the Micro Small and Medium Enterprises (MSMEs) have been conventional as the engine of economic enlargement and for promoting equitable development. The major advantage of the sector is its employment potential at low capital cost. The labour intensity of the MSME sector is much higher than that of the large enterprises. In India too, the MSMEs play a pivotal role in the overall industrial economy of the country. In recent years the MSME sector has consistently registered higher growth rate compared to the overall industrial sector. The Government of India has undertaken several initiatives and instituted policy measures to foster a culture of innovation and entrepreneurship in the country. Government announces various schemes and benefits for promoting the entrepreneurship in India. Key words: Development, India, MSME (Micro, Small and Medium Enterprises), Policy, Schemes Introduction The Micro, Small and Medium Enterprises (MSME) sector has emerged as a highly vibrant and dynamic sector of the Indian economy over the last five decades. It contributes significantly in the economic and social development of the country by fostering entrepreneurship and generating largest employment opportunities at comparatively lower capital cost, next only to agriculture. MSMEs are complementary to large industries as ancillary units and this sector contributes significantly in the inclusive industrial development of the country. The MSMEs are widening their domain across sectors of the economy, producing diverse range of products and services to meet demands of domestic as well as global markets. 1.1 Role of MSMEs in Indian Economy