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INTERNATIONAL JOURNAL OF SCIENTIFIC DEVELOPMENT AND RESEARCH International Peer Reviewed & Refereed Journals, Open Access Journal ISSN Approved Journal No: 2455-2631 | Impact factor: 8.15 | ESTD Year: 2016 open access , Peer-reviewed, and Refereed Journals, Impact factor 8.15 |
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| Paper Title: | Role of Micro, Small, and Medium Enterprises (MSMEs) in the Industrial Development of Uttarakhand |
| Authors Name: | Sushant Kumar |
| Unique Id: | IJSDR2209029 |
| Published In: | Volume 7 Issue 9, September-2022 |
| Abstract: | Industrial development is of great importance for the economic development of a region. Historically, regions with strong industrial development have shown more economic growth and development. Uttarakhand has shown rapid industrial development among Himalayan states since its establishment and its main contributor has been the Micro, Small, and Medium Enterprise (MSME) sector. The MSME sector has been playing a vital role in the state’s industrial development, especially in terms of the number of units, employment generation, and capital investment. In two decades, the MSME sector surfaced as Uttarakhand's second largest employment creator, with the first being the agriculture sector. MSMEs now exist in the state's manufacturing, trade, and service sectors, significantly contributing to the state's impressive industrial growth. While MSMEs have excelled over time at utilizing local resources to produce high-quality goods and services, they have also established themselves across the state's key industries and in significant export markets. As the state struggles with a serious problem of migration from the hilly region to the plains due to a lack of employment and business opportunities, the state of Uttarakhand is looking at sustainable and inclusive industrial growth. The bigger state-specific problem is the regional disparity between the state's hill and plain districts in terms of the number of units, job creation, and capital investment. The current study's goals are to examine the part that MSMEs played in Uttarakhand's industrial development and the factors that prevented it. An exploratory study was conducted with the help of secondary data obtained from various sources like the Economic Survey of India, Economic Survey of Uttarakhand, MSME Annual Reports, All India Census Report, Journals, Newspapers, etc. The Secondary data has been taken from all the districts of the state for 15 years and as mentioned above three variables (the number of units, employment generation, and capital investment) were taken for analyzing the role of MSMEs in the industrial development of the state. To study the role of MSMEs in the state’s industrial development, the available data has been analyzed with the help of simple linear regression. The study is based on a roomy survey which fundamentally adds to guiding the concerned authorities to go to reasonable lengths for the fast modern improvement of the state. Different intriguing measures for speeding up the development of industrialization and encouraging a modern standpoint have been given in this study. |
| Keywords: | Micro, Small, and Medium Enterprises (MSMEs), Industrial Development, Economic Development, Employment Generation. |
| Cite Article: | "Role of Micro, Small, and Medium Enterprises (MSMEs) in the Industrial Development of Uttarakhand", International Journal of Science & Engineering Development Research (www.ijsdr.org), ISSN:2455-2631, Vol.7, Issue 9, page no.162 - 166, September-2022, Available :http://www.ijsdr.org/papers/IJSDR2209029.pdf |
| Downloads: | 000337064 |
| Publication Details: | Published Paper ID: IJSDR2209029 Registration ID:201550 Published In: Volume 7 Issue 9, September-2022 DOI (Digital Object Identifier): Page No: 162 - 166 Publisher: IJSDR | www.ijsdr.org ISSN Number: 2455-2631 |
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