Opportunities and Challenges for SMEs in India
The Indian economy is growing at a faster pace worldwide. This economic growth has steadily accelerated and remained very stable as observed in the last few decades. The reason behind this growth rate is the implementation of the robust socio-economic policies of the government, an invasion in the domestic and foreign capital along with the increment in disposable income. The small medium enterprise examples are the real backbone of India’s economy whether it is agriculture, automobile, manufacturing or service industry. There exist multiple opportunities for Indian SMEs to grow and thrive faster if they adapt to the changing trends and latest digital skills. The challenging road for SMEs Though SMEs put a great contribution to the socio-economic growth of India, a list of sme companies faces a number of challenges: ● Low capital due to insufficient access to finance and credit ● Less capable of catching talented and...