Question Q12DiscussGS3GS2
Discuss the role of MSMEs in fostering regional growth and achieving industrial diversification in India.
Introduction
MSMEs are the backbone of Indian economy with 30% of GDP, 45% of Exports and 11 crore job creation. They hold immense potential to boost regional growth, industrial diversification and tech achievements.
32 words
Main Body
Role in fostering regional growth: 1) Balanced & Inclusive growth: Eg: promotion of MSMEs in North East (currently only 2%) 2) Help check migration pressure: from under developed to Industrial states (MH, TN). 3) Job creation at local levels: boosting spatial growth. 4) Footloose industries: Services, tourism can be tapped for regions without resource.
5Bridge the rural urban divide: by promoting cluster based growth. Eg: FPI industries in rural areas like AMUL. Achieving Industrial diversification Can lead to tap alternate industries. 1) Defense: can be catered around 2 new defense corridors. 2) Space tech: 200+ startups have emerged from just 2 in 2019. Eg: AgniKool. 3) Technical Textiles: like parachutes, seat belts 4) Ancillary goods: small auto parts, robotics, tyres etc. 5) Service based MSMEs: like tourism, consultancy, fintechs can come up. Eg: Zerodha for brokering.
— Madhav Agarwal
137 words1 paragraphs
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Topper
Madhav Agarwal
Subject & Paper
GS3GS2
Topic
10. Government Policies and Interventions - Design, Implementation and Issues
Government Schemes and Policies
MSMEs and Regional Growth
Writing Stats
169
Total words
1
Paragraphs
analytical
Tone