Role Of Micro Small and Medium Enterprises in Achieving Sustainable Development Goals in India
Akhtar, Gulshan
Assistant Professor, Department of Economics, Hamidia Girls` Degree College, University of Allahabad, Prayagraj, India.
Abstract
Sustainable development is a concept that benefits the present as well as the future of mankind. The traditional linear economic model of make, use and throw leads to un-sustainability while sustainability requires the development of balanced production systems with circular economy keeping in mind the 5 P’s i.e. People, Planet, Prosperity, Peace and Partnership. As a universal call to achieve Sustainable Development Goals, Micro Small and Medium Enterprises (MSMEs) is the key to employment generation, poverty eradication, removal of regional disparity, removal of gender inequality, promoting entrepreneurship, reducing the severity of hunger, etc. Contributing to 90% of businesses worldwide, 60 to 70% of employment and 50% of GDP, MSMEs are the backbone of the global and domestic economies. The main objective of this research paper is to examine the potential of MSMEs in the Indian context to achieve Sustainable Development Goals.
Keywords: MSMEs; Sustainable Development Goals; Poverty Eradication; Inclusive Growth
Impact Statement
This research focuses on the transformative potential of micro, small and medium enterprises in India, mainly in advancing sustainable development and achieving the Sustainable Development Goals. Despite their potential to boost employment and promote equitable economic growth, MSMEs are facing a number of challenges such as lack of access to capital, resources, technology & policy support. The aim of the study was to examine these constraints and identify strategies to enhance the role of MSMEs in India’s economic landscape and provide insights for policymakers and contribute to a broader understanding of their impact on society and the economy.
About The Author
Dr. Gulshan Akhtar is an Assistant Professor in the Department of Economics at Hamidia Girls’ Degree College, University of Allahabad. She holds a PhD in Economics and brings over 23 years of teaching experience to her role. Throughout her career, Dr. Akhtar has been recognized with numerous awards for her outstanding achievements and contributions to the field of education.
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