A STUDY ON PROBLEMS AND CHALLENGES FACED BY MICRO SMALL AND MEDIUM ENTERPRISES: A SPECIAL REFERENCE TO MANUFACTURING SECTOR IN COIMBATORE DISTRICT

MSMEs, as a major contributor towards growth of domestic economy and employment generation, should get adequate support in terms of policy framework, incentives and other relevant aids. There are 35 million enterprises in various industries, employing 69 million people. The finest benefit of this sector is employment generation for the development of Indian Economy by increasing of standard of living of the people. In this background researcher made an attempt to study the role of Small, Micro and Medium Enterprises in inclusive growth of Indian Economy. Steps like providing infrastructure facilities, developing various industrial parks and technology incubators under MSME cluster development programmers, creating networks of organizations that help provide training to skilled workforce to improve productivity, encourage entrepreneurship and competency in management, funding R&D investments, technology advancement may work for the betterment of the sector. This paperfocuses on the prospects of MSME and the major challengesforsustained growth.