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Authors
Affiliations
1 Department of Commerce, M.D. University, Rohtak, Haryana, IN
Source
IAHRW International Journal of Social Sciences Review, Vol 3, No 1 (2015), Pagination: 125-127
Abstract
For any nation's economic development, small & medium sized enterprises are considered as powerful engines. In India, Micro, Small and Medium Enterprises (MSME) contribute nearly 8 percent of the country's GDP, 45 percent of the manufacturing output and 40 percent of the exports. But empirical evidences suggest that these are also cause for 70% of the industrial pollution. The figures presented are cumulative not individual. Individuals may emit small amounts of pollution but as a whole their effect are very substantial. Unfortunately, many are not aware of the problem they are causing or even if they are aware they do not have sufficient finance to install equipments to minimize pollution. But if want sustainable development of our economy, and then we have to resolve this problem as soon as possible. It is to be realized that sustainability will lead to long term profitability and will also safeguard interests of our future generation. SMEs are essential to the 'path out of poverty' for many developing countries. On the other hand the SME sector must not be allowed to become a loophole in which polluting, exploitative industries flourish. However, support for SME development can be an important part of the Corporate Social Responsibility commitment of big companies, and improvements in social and environmental impact can go hand in hand with improvements in quality and management. In the case of SMEs in developing countries, upgrading the quality of their technology, management, and marketing, are likely to be equally pressing concerns, which need to be addressed in parallel with social and environmental impacts. Thus, it is imperative to educate entrepreneurs about the impact of environmental issues in their own interest. They should be made to realize that production of eco-friendly products will enhance profitability and contribute to long run success of business.
Keywords
MSMEs, Sustainable Development, Environmental Protection, Credit Linked Subsidy.
