Worldwide, the Micro, Small and Medium Enterprises (MSMEs) have been accepted as the engine of economic growth and for promoting equitable Development. The major advantage of the sector is its employment potential at low capital cost. The labour intensity of this sector is much higher than that of the large enterprises. It is a nursery of entrepreneurship, often driven by individual creativity and innovation.
In India too, the Micro, Small and Medium Enterprises play a pivotal role in the overall industrial economy of the country. It contributes 8 per cent of the country’s Gross Domestic Product, 45 per cent of the manufactured output and 40 per cent of its exports. The Micro, Small and Medium Enterprises provide employment to about 60 million persons through 26 million enterprises.
In recent years the Micro, Small and Medium Enterprises Sector has consistently registered higher growth rate compared to the overall industrial sector. With its agility and dynamism, the sector has shown admirable innovativeness and adaptability to survive the recent economic downturn and recession. Thus, Micro, Small and Medium Enterprises are important for the national objectives of growth with equity and inclusion.
Tamil Nadu accounts for the largest number of (15.07 Percentage) Micro, Small and Medium Enterprises (MSMEs) in the country with 6.89 lakhs registered MSMEs, producing over 8,000 varieties of product for a total investment of more than Rs.32,008 crores.
Tamil Nadu is a leader in Auto parts and components, Readymade Garments and Leather and leather goods. In order to give special drive the following 13 Industries have been identified as thrust sector-
1. Electrical and electronic industry
2. Leather and leather goods
3. Auto parts and components
4. Drugs and pharmaceuticals.
5. Solar energy equipment.
6. Gold and Diamond Jewellery for exports.
7. Pollution Control equipments.
8. Sports Goods and Accessories.
9. Cost effective building material.
10. Readymade Garments.
11. Food processing
12. Plastic and
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