GROWTH AND PERFORMANCE OF MSME’S IN KARNATAKA- A QUALITATIVE STUDY

The research of academicians be it an empirical or exploratory or conceptual, reports of commissions, reports of government, industry, ministries, clusters ....,etc have clearly indicated that the MSME sector is the most vibrant and dynamic sector of the country. The development of the nation is not just dependent on the growth of the large industries MSME’s are the backbone of the country contributing tremendous to the economic development of the country by being the most attractive and promising sector for the employment among the younger generation, exports, diversification, innovation and resource mobilization. Small and medium enterprises (SMEs) have been the backbone of the Indian economy. To state the statistics, it is employing close to 40% of India's workforce and contributing 45% to India's manufacturing output, SMEs play a critical role in generating millions of jobs, especially at the low-skill level.