FINANCIAL INCLUSION: THE ROLE OF MSMEs IN INDIA
KEY WORDS: MSMEs, Financial Inclusion, Globalization, Economic growth.
ABSTRACT:
MSMEs are great part and play a significant role in the growth in India. The globalization will bring many advantages for enterprises however MSMEs will face severe competition at the local, national and international level. In order to maintain and promote the significant role of MSMEs in the context of increased competition, MSMEs have to change and adopt new technologies. Micro, Small and Medium Enterprises (MSMEs) play a vital role for the growth of Indian economy. MSMEs including khadi and village/rural enterprises. MSMEs are the engine of growth in many Economies around the world. India is expected to become one of the World’s Largest Economies in the coming decades. The Micro, Small and Medium Enterprises (MSMEs)are expected to play an Important role in the rise of the Indian Economy. The Enactment of the Micro, Small and Medium Enterprises Development (MSMED) act, 2006 is a turning point for the development of the Indian Industry.
MSME sector which has large employment potential of 59.7 million persons over 26.1 million enterprises, is considered as an engine for economic growth and promoting financial inclusion in rural Areas. MSMEs primarily depend on bank credit for their operations. By Providing essential financial services to underserved segments of the MSME Sector, NBFCs play a vital role in promoting Financial Inclusion. This, in turn, stimulates economic growth, as more MSMEs are able to invest in their businesses, create jobs, and contribute to the overall economy.
Registration ID: IJVRA_702199 Published ID: IJVRA2603783
"FINANCIAL INCLUSION: THE ROLE OF MSMEs IN INDIA", IJVRA - International Journal of Versatile Research and Analysis (www.IJVRA.org), ISSN:2984-8903, Vol.4, Issue 3, page no.54-63, March-2026, Available :https://ijpub.org/ijvra/papers/IJVRA2603783.pdf
Paper Reg. ID: IJVRA_702199
Published Paper Id: IJVRA2603783
Research Area: Commerce All
Country: Kakinada, Andhra Pradesh, India
ISSN: 2984-8903 | IMPACT FACTOR: 9.12 Calculated By Google Scholar | ESTD YEAR: 2023
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