Small and Medium enterprises play a vital role for the growth of Indian economy by contributing 45% of the industrial output, 40% of exports ,42 million in employment, creates 1 million jobs every year and produces more than 8000 quality products for the Indian and International markets.
In the present scenario of low economic growth, less industrial production on one hand while on the other hand, thousands of students passing out of colleges without proper employment opportunities possess a serious threat to the stability and growth of our country.
Entrepreneurs could offer a solution to some of these challenges by starting new businesses with new products or services. This creates jobs and a fresh opportunity for an economy to produce additional goods or services.
In this way, entrepreneurs grow both the demands idea and the supply side of the economy. This creates opportunity and improved quality of life.