Explain why Micro, Small and Medium Enterprises (MSME) sector is regarded as the ‘growth engine’ of the Indian economy. Suggest key reforms that are required for improving the overall business climate for MSMEs in India.
Approach:
Highlight the reasons as to why MSME sector is considered as the growth engine of Indian economy.
Briefly mention the issues facing this sector.
Suggest reform measures for improving the overall business climate for MSME sector in India.
