MSMEs and Industrial Policies in India: A Critical Evaluation

Ajai Kumar A and Pradeep Kumar B

MPRA Paper from University Library of Munich, Germany

Abstract: Starting with the industry policy resolution of 1956, MSMEs have been given considerable attention in the industrial policies announced in India. Although the Mahalanobis model adopted for the Second Five Year plan emphasized the growth of heavy industries, the small scale and consumer goods industries had been given due consideration. The industrial policy statement of 1977 gave an explicit support to the development of MSMEs in India. The industrial policy of 1980s and the new industrial policy of 1991 had nothing to offer newly to the progress of MSMEs. Nevertheless, in recent times a number of measures have been initiated to boost the MSME sector, and the results of which have been reflected on its growing contribution to India’s GDP, employment generation and exports.

Keywords: MSMEs; Industrial Policy; Five Year Plans; Big Push; Manufacturing; Liberalization (search for similar items in EconPapers)
JEL-codes: L60 (search for similar items in EconPapers)
Date: 2024-05
New Economics Papers: this item is included in nep-ent
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Published in International Journal of Humanities and Social Science Invention (IJHSSI) 5.13(2024): pp. 30-33

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