PES Business Review

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Worldwide, the Small and Medium Enterprises (SMEs) are recognized as an "engine of growth". In India, however, it is necessary to refer to the "Micro, Small and Medium Enterprises [MSMEs)" on account of the significance of the micro enterprises, both in the total population of MSME and in the economy as a whole. The process of globalization has, on the one hand, opened the gateways of opportunities to the MSMEs: of closer interactions and access to much larger markets, to name only a few. It has, on the other hand, exposed the segment, particularly the micro, small and medium enterprises(MSMEs] in India, to the challenges of intense competition, both domestic and global.
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