Growth and Prospect Of MSMEs In Bilaspur- Chhattisgarh: An Analytical Approach

Micro, Small and Medium Enterprises (MSME) sector has emerged as a highly vibrant and dynamic sector of the Indian economy over the last five decades. MSMEs not only play crucial role in providing large opportunities at comparatively lower capital cost than large industries but also help in industrialization of rural & backward areas, thereby, reducing regional imbalances, assuring more equitable distribution of national income and wealth. The present study revealed that there is a continuous growth of number of MSME units. The growth story of these sectors enhances production, employment and exports of the state as well as in our country. According to Economic Survey of Chhattisgarh 2011-12, the anticipated growth rate of Chhattisgarh is estimated at 7.18% as against all India anticipated growth of 6.9% in 2011-12. The State Chhattisgarh inherent to its location, natural resources has tremendous potentialities to create ample opportunities in small business in various sectors. Enterpreneurship development is considered as a key factor to fight against unemployment, poverty and achieve overall socio-economic growth in our state. Last but not the least, growth rate of MSMEs is very good and healthy sign towards progress and prosperity of Chhattisgarh.