It is well known that the MSME sector constitutes the spine of the nation, small Industry has been one of the major pillars of India’s economic development strategy since Independence. India accorded high priority to Small and Medium Enterprises (SMEs) from the very beginning and pursued support policies to make these enterprises viable, vibrant and over time, these have become major contributors to the GDP. Moreover, the MSME sector has weathered and overcome stiff competition in the post liberalization period in the domestic and International arena.
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