Small Scale Industries and its Importance in India | Best MBA colleges in Bangalore

Posted by Kavya J On 12/02/2022 10:51:01

The Central Government has the authority to determine capital investment requirements for small-scale industries. These requirements are listed under the Industries (Development and Regulation) Act, 1951.

A small enterprise in which investment in plant & machinery ranges between Rs. 25 lakhs to Rs. 5 crores is a small-scale industry. Best B-school in Bangalore

Similarly, for industries that provide services, the investment requirement is between Rs. 10 lakhs and Rs. 2 crores.

Small scale industries are important because it helps in increasing employment and economic development in India. It improves the growth of the country by increasing urban and rural growth. The role of Small and medium scale enterprises is to help the government in increasing infrastructures and manufacturing industries, reducing issues like pollution, slums, poverty, and many development acts. Small scale manufacturing industries and cottage industries play a very important role in the economic development of India. If any amount of capital is invested in small-scale industries it will help in reducing unemployment in India and increasing self-employment. The industry is a sector in which the production of goods is a segment of the economy. MBA admission in Bangalore 2022

Role and Importance of Small Scale Industries

  • Increases production
  • Increases total exports
  • Improves the employment rate
  • Opens new opportunities
  • Advances welfare
  • Facilitates women growth
  • Balanced regional development
  • Mobilization of local resources
  • Optimization of capital
  • Develops Entrepreneurship

 To conclude, small-scale industries play a very great role in improving the economy, by providing employment opportunities, increasing the GDP, and promoting the nation to a great extent in overall development. 

 

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