Date post: | 04-Apr-2018 |
Category: |
Documents |
Upload: | pradeep-kumar-pandey |
View: | 223 times |
Download: | 0 times |
of 43
7/30/2019 major marketing problems faced by msme sectors
1/43
MAJOR MARKETING CHALLENGES FACED BY MSME SECTOR Page 1
SUMMER INTERNSHIP PROJECT REPORT
ON
MAJOR MARKETING CHALLE NGES FACED BY MSME SECTOR
Submitted for the Partial Fulfillment of the Requirement for the degree of
MBA (Masters of Business Administration)
2011-2013
FACULTY GUIDE SUBMITTED BY
S.K SAHOO PRADEEP PANDEYAsst. Professor(Marketing ) Reg. No. - 1106262013IIPM School of Management MBA (2011-2013)Kansbahal
BIJU PATNAIK UNIVERSITY OF TECHNOLOGYROURKELA
ODISHA
7/30/2019 major marketing problems faced by msme sectors
2/43
MAJOR MARKETING CHALLENGES FACED BY MSME SECTOR Page 2
ACKNOWLEDGEMENT
I express my sincere gratitude to MR. ANUPAM GAYEN ( Branch Manager of NSIC, Rourkela) for providing me an opportunity to work on this project. I am very
grateful for their constant support and guidance throughout the duration of the entire
project. Acknowledgements are also due to all the other staff in NSIC, Rourkela,
Branch for providing information at various point of the project, especially the
discussions on the market. I also express my sincere thanks to MR. S. K. SAHOO
(Faculty Mentor) for his sincere cooperation, guidance and support. Lastly, I thank
my parents, family members and friends for their constant support in my endeavour.
7/30/2019 major marketing problems faced by msme sectors
3/43
MAJOR MARKETING CHALLENGES FACED BY MSME SECTOR Page 3
DECLARATION
I PRADEEP KUMAR PANDEY declare that this project report entitled MAJOR
MARKETING CHALLENGES FACED BY MSME SECTOR with reference to
NSIC Rourkela submitted by me to the BPUT university, Rourkela is bonafied work
of own and it has not been submitted to any other or university for any degree or
diploma.
Dated pradeep kumar pandey
Signature
7/30/2019 major marketing problems faced by msme sectors
4/43
MAJOR MARKETING CHALLENGES FACED BY MSME SECTOR Page 4
CERTIFICATE
This is to certify that Ms. Pradeep Kumar Pandey bearing registration number
1006262013, a Student of IIPM-School of Management under Biju Patnaik
University of Technology, Rourkela has undergone his SIP (Summer Internship
Project) entitled MAJOR MARKETING CHALLENGES FACED BY MSME
SECTOR of NSIC under my guidance and supervision. The project Report is
original to the best of my knowledge and belief. I recommend the Project for
Evaluation.
Date- Prof. S.K SHAOO
IIPM School of Management
7/30/2019 major marketing problems faced by msme sectors
5/43
MAJOR MARKETING CHALLENGES FACED BY MSME SECTOR Page 5
EXECUTIVE SUMMARY
During the course of one month s project, the detailed study of Major
marketing challenges faced by MSME (micro, small and medium enterprises)
sector was carried out in NSIC, Rourkela for determining the goodwill of NSIC
and also to determine the potential and efficiency of NSIC registration schemes for
development of small industries of Rourkela. The mode of sample methodology is
random. The sample unit is small industries whether registered or not registered underNSIC. Research approaches observation and survey. The research instrument used is
questionnaire. The geographical condition of Rourkela favours a lot in the field of
industrial marketing. It provides great immense for the small scale industrial sector.
The final conclusion after the analysis done on the data acquired during the survey is
that Rourkela is a fast developing city with a great future for business units. All that
needs to be done by the NSIC is that create an awareness about the prevailing
schemes and also introduce new schemes prevailing to the market trend of Rourkela
and they should even keep a keen watch over the activities and schemes of other
players in the city.
There are various steps that are being done to improve their marketing
strategies as being the leader in Raw materials and government purchase in the region
to make it customer friendly. NSIC is also giving its best effort to create awareness by
conducting programmes like Entrepreneurship Development Programme (EDP) .
7/30/2019 major marketing problems faced by msme sectors
6/43
MAJOR MARKETING CHALLENGES FACED BY MSME SECTOR Page 6
TABLE OF CONTENTS
1.Introduction 7 -15
2.Company profile16 -18
3.Objective of the study19 -20
4.Research methodology
21 -24
5.Litrature review25 -35
6.Analysis and findings 36 -39
7.Conclusion suggestion and limitation of the study40 -42
8.Refrence43
7/30/2019 major marketing problems faced by msme sectors
7/43
MAJOR MARKETING CHALLENGES FACED BY MSME SECTOR Page 7
CHAPTER - 1INTRODUCTION
7/30/2019 major marketing problems faced by msme sectors
8/43
MAJOR MARKETING CHALLENGES FACED BY MSME SECTOR Page 8
INTRODUCTION TO MSMEs
Micro Small and Medium Enterprises (MSMEs) have played a significant role world
over in the economic development of various countries. Over a period of time, it has
been proved that MSMEs are dynamic, innovative and most importantly, the
employer of first resort to millions of people in the country. The sector is a breeding
ground for entrepreneurship. The importance of MSME sector is well-recognized
world over owing to its significant contribution in achieving various socio-economic
objectives, such as employment generation, contribution to national output and
exports, fostering new entrepreneurship and to provide depth to the industrial base of
the economy.
Micro Small and medium-sized enterprises (MSMEs) are the backbone of all
economies and are a key source of economic growth, dynamism and flexibility in
advanced industrialized countries, as well as in emerging and developing economies.
MSMEs constitute the dominant form of business organization, accounting for
over 95% and up to 99% of enterprises depending on the country. They are
responsible for between 60-70% net job creations in Developing countries. Small
businesses are particularly important for bringing innovative products or techniques tothe market. Microsoft may be a software giant today, but it started off in typical
MSME fashion, as a dream developed by a young student with the help of family and
friends. Only when Bill Gates and his colleagues had a saleable product were they
able to take it to the marketplace and look for investment from more traditional
sources. MSMEs are vital for economic growth and development in both
industrialized and developing countries, by playing a key role in creating new
jobs. Financing is necessary to help them set up and expand their operations, developnew products, and invest in new staff or production facilities. Many small businesses
start out as an idea from one or two people, who invest their own money and probably
turn to family and friends for financial help in return for a share in the
business. But if they are successful, there comes a time for all developing MSMEs
when they need new investment to expand or innovate further. That is where
they often run into problems, because they find it much harder than larger
businesses to obtain financing from banks, capital markets or other suppliers of
credit.
7/30/2019 major marketing problems faced by msme sectors
9/43
MAJOR MARKETING CHALLENGES FACED BY MSME SECTOR Page 9
MSMEs in India
India has a vibrant MSME sector that plays an important role in sustaining economicgrowth, increasing trade, generating employment and creating new entrepreneurship
in India. In keeping in view its importance, the promotion and development of
MSMEs has been an important plank in our policy for industrial development and a
well-structured programme of support has been pursued in successive five-year plans
for. MSMEs in India have recorded a sustained growth during last five decades. The
number of MSMEs in India is estimated to be around 13 million while the estimated
employment provided by this sector is over 31 million . The MSME sector accounts
for about 45 per cent of the manufacturing output and over 40 per cent of the
national exports of the country.
Figure -MSMEs in India
India embarked on the path of opening up its economy and integrating it with the
global economy in 1991. The liberalization of economy, while offering tremendous
opportunities for the growth and development of Indian industry including MSMEs,
has also thrown up new challenges in terms of fierce competition. The very rules
7/30/2019 major marketing problems faced by msme sectors
10/43
MAJOR MARKETING CHALLENGES FACED BY MSME SECTOR Page 10
which provide increased access for our products in the global markets also put
domestic industry under increased competition from other countries. In today s world,
access on a global basis to modern technology, capital resources and markets have
become the most critical determinants of international competitiveness.
Defining MSMEs
In India, the enterprises have been classified broadly into two categories:
(i) Manufacturing; and
(ii) Those engaged in providing/rendering of services.
Both categories of enterprises have been further classified into micro, small and
medium enterprises based on their investment in plant and machinery (for
manufacturing enterprises) or on equipment s (in case of enterprises providing or
rendering services). The classification on basis of investment is as under :
Table Classification Of Micro, Small And Medium Enterprises
Classification Investment Ceiling for Plant, Machinery or Equipments
Manufacturing Enterprises Service Enterprises
Micro Upto Rs.25 lakh Upto Rs.10 lakh
Small Above Rs.25 lakh & upto Rs.5
crore
Above Rs.10 lakh & upto Rs.2
crore
Medium Above Rs.5 crore & upto
Rs.10 crore
Above Rs.2 crore & upto Rs.5
crore
SME would be meant to include Micro Small and Medium Enterprises (MSMEs). The
above definitions of Micro, Small and Medium Enterprises would be in place of the
existing definitions of Small & Medium Industries and SSSBEs/Tiny Enterprises.
Micro Enterprises would include Tiny Industries also.
7/30/2019 major marketing problems faced by msme sectors
11/43
MAJOR MARKETING CHALLENGES FACED BY MSME SECTOR Page 11
In Manufacturing, Small Enterprises would mean Small Scale Industries
(SSIs) & Medium Enterprises mean Medium Industries (MIs).
In Services, Small Enterprises and Medium Enterprises would mean other
Small & Medium Enterprises.
All advances to segments viz. Micro, Small and Medium Enterprises in the
Manufacturing sector irrespective of sanctioned limits, (including advances
against TDRs/Govt. Securities etc for business purposes to these categories of
Borrowers), and
Advances to Services Sectors such as Professional & Self-Employed, Small
Business Enterprises, and Small Road/Water Transport Operators and other
enterprises, engaged in providing/rendering of services, conforming to the
above investment criteria and enjoying borrowing/non-borrowing facilities
with the Bank (including advances against TDRs/Govt. Securities etc for
business purposes to these categories of Borrowers).
Those enterprises exceeding the investment ceilings would be categorized as
Large Enterprises and be outside the purview of MSME.
The sanctioned limits would no longer be the criteria determining the status as micro
or small or medium enterprises in these cases.
IMPORTANCE AND CONTRIBUTION OF MSME:
The Micro Scale and Medium Enterprises (MSMEs) play an important role in the
economic development of any country. MSME enterprises can be rightly called as the
backbone of the GDP of India. The MSME sector in India is growing at an
exceptionally fast rate due to which it is proving to be beneficial to the Indian
Economy. However, there are some important points that need to be considered for
further development of the MSME sector.
MSME contributes in the following:
Rural industrialization
Rural development and decentralization of industries
7/30/2019 major marketing problems faced by msme sectors
12/43
MAJOR MARKETING CHALLENGES FACED BY MSME SECTOR Page 12
Creation of employment opportunities and more equitable income distribution Use of indigenous resources; earning of foreign exchange (FOREXs)
resources
Creation of backward and forward linkages with existing industries
Entrepreneurial development
The development of MSMEs is one of the sustainable ways of reducing the level of
poverty and improving the quality of life in household through job and wealth
creation. According to the United Nation Development program (UNDP), MSMEs
have the highest capital, employment ratio and are a source of income for a lot of
people World over. The most important thing is that MSMEs also act as safeguard in
times of economic recessions.
The MSMEs constitute over 90% of total enterprises in most of the economies and are
credited with generating the highest rates of employment growth and account for a
major share of industrial production and exports. In India too, the MSMEs play a
pivotal role in the overall industrial economy of the country. In recent years the
MSME sector has consistently registered higher growth rate compared to the overall
industrial sector. With its agility and dynamism, the sector has shown admirable
innovativeness and adaptability to survive the recent economic downturn and
recession.
This sector contributes 8% of the country s GDP and employs around 60 million
people, through 26 million enterprises. MSMEs in the country manufacture over
6,000 products.
Let us analyze the factors that have contributed to the growth of the MSME sector in
India.
MSME units in India are being funded by foreign and local fund providers. The advancement in technology has also contributed highly to the MSME
sector. There are numerous business directories and trade portals available
online that contains a rich database of manufacturers, sellers and buyers.
To start and maintain these units, minimal investment is required. These MSME units are now being funded by many government and private
banks.
7/30/2019 major marketing problems faced by msme sectors
13/43
MAJOR MARKETING CHALLENGES FACED BY MSME SECTOR Page 13
The MSME sector is one of the greatest contributors of domestic production as
well as the export earnings Many major mergers have taken place recently.
Major Problems of MSMEs
Despite its commendable contribution to the Nation's economy, MSME Sector does
not get the required support from the concerned Government Departments, Banking
Sector, Financial Institutions and Corporate Sector, which is a handicap in becoming
more competitive in the National and International Markets and which needs to be
taken up for immediate and proper redressal. MSME sector faces a number of problems - absence of adequate and timely banking finance, limited knowledge and
non-availability of suitable technology, low production capacity, follow up with
various agencies in solving regular activities and lack of interaction with government
agencies on various matters.
Some of the major problems are briefly as follows:
a) Financial problems of MSMEs:
The financial problem of MSMEs is the Root Cause for all the other problems faced
by the MSME sector. The small and medium industrialists are generally poor and
there are no facilities for cheap credit. They fall into the clutches of money lender
who charges very high rates of interest, or else they borrow from the dealers of their
goods, who exploit them by completing them to sell their products at very low price.
After the nationalization of 14 major Indian Banks in July, 1969, the Commercial
banks were providing only a small proportion of SMEs financial requirements. Credit
to the MSME sector continues to be non-commensurate with its contribution to the
total industrial output. As against the share of the village and MSME at 40% in the
industrial output, its share in total credit to the industrial sector is only about 30%.
b) Raw Material problem of MSMEs:
This difficulty is experienced in a very pronounced form. The quantity, quality and
regularity of the supply of raw materials are not satisfactory. There are no
quantity discounts, since they are purchased in small quantities and hence
7/30/2019 major marketing problems faced by msme sectors
14/43
MAJOR MARKETING CHALLENGES FACED BY MSME SECTOR Page 14
charged, higher prices by suppliers. Difficulty is also experienced in procuring
semi-manufactured materials. Financial weakness stands in the way of securing raw
materials in bulk in a competitive market.
c) Production problem of MSMEs:
MSME units suffer from inadequate work space, power, lighting and
ventilation, and safety measures etc. These short comings have tended to endanger
the health of workmen and have adversely affected the rate of production. Many
units are following primitive methods of production. Adoption of modern
techniques is either disliked by the entrepreneurs is not feasible. Wage rates and
service conditions of small industries are not attractive to skilled labor.
d) Technological problem of MSMEs:
Today technology is changing at a very fast phase; it becomes difficult for MSMEs to
cope up with changing technology. Technology up gradation and the frequent need to
renew the equipment has emerged as a big problem.
d) Marketing problem of MSMEs:
As marketing is not properly organized, the helpless artisans are completely atthe mercy of middle man. The potential demand for their goods remains under
developed. The MSMEs have to face the competitions from large scale units in
marketing their products. It causes damage to the growth and stability of MSMEs.
MSMEs cannot afford to spend lavishly for advertisement to promote their sales.
e) Managerial problem of MSMEs:
Small scale industries in our country have suffered from the lack of entrepreneurial
ability to develop initiative and undertake risks in the unexplored industrial
fields. The in efficiency in management comes first among managerial
problems. The entrepreneurial ability of promoters of cottage industries and
MSMEs are handicapped by technical know how in the areas of production, finance,
accounting and marketing management.
7/30/2019 major marketing problems faced by msme sectors
15/43
MAJOR MARKETING CHALLENGES FACED BY MSME SECTOR Page 15
f) Sickness of MSMEs:
A serious problem which is hampering small and medium sector has been sickness.
Many small units have fallen sick due to one problem or the other. Sickness is caused
by two sets of factors, Internal and external factors. From among the variousinternal and external causes of sickness the important ones are bud
management, high rate of capital gearing, inadequacy of finance, short of raw
materials, outdated plant and machinery, low labor productivity etc.
Importance of the study
The researches that were conducted in past by the various professionals are in foreign
context and not in Indian context. Study relating to MSMEs, their problems and
source of financing has been done but regarding the MSME financial schemes of
public sector banks has not been done. This gap has been identified and it has led to
the present research to be undertaken. So, the need was felt to cover the areas
neglected. Thus, here a study on major marketing problems faced by MSME.
Scope of the study
The scope of this study was limited to the whole world which are going to start Micro
Small & Medium Enterprises.
7/30/2019 major marketing problems faced by msme sectors
16/43
MAJOR MARKETING CHALLENGES FACED BY MSME SECTOR Page 16
CHAPTER-2COMPANY
PROFILE
7/30/2019 major marketing problems faced by msme sectors
17/43
MAJOR MARKETING CHALLENGES FACED BY MSME SECTOR Page 17
COMPANY PROFILE
National Small Industries Corporation Ltd. (NSIC), is an ISO 9001-2008 certified
Government of India Enterprise under Ministry of Micro, Small and MediumEnterprises (MSME). NSIC has been working to fulfill its mission of promoting,
aiding and fostering the growth of small industries and industry related micro, small
and medium enterprises in the country. Over a period of five decades of transition,
growth and development, NSIC has proved its strength within the country and abroad
by promoting modernization, upgradation of technology, quality consciousness,
strengthening linkages with large medium enterprises and enhancing exports -
projects and products from small enterprises. NSIC operates through countrywide network of offices and Technical Centres in theCountry. To manage operations in African countries, NSIC operates from its office in
Johannesburg, South Africa. In addition, NSIC has set up Training cum Incubation
Centre & with a large professional manpower, NSIC provides a package of services as
per the needs of MSME sector.
ORGANISATIONAL SET-UP
The Policy guidelines to the Corporation are provided by the Board of Directors
consisting of a full time Chairman-cum Managing Director; two Functional Directors;
two Government Nominee Directors, one SIDBI Nominee Director and six Non-
official Part-time Directors. The Corporation has a dedicated team of professionals at
all levels and operates through 123 offices located all over India and one office
located at Johannesburg (South Africa).
NSIC offers small enterprises the following support services through its Technical
Services Centres and Extension Centres
1. Advise on application of new techniques
2. Material testing facilities through accredited laboratories
3. Product design including CAD
4. Common facility support in machining, EDM, CNC, etc.
5. Energy and environment services at selected centres.
6. Classroom and practical training for skill upgradation.
7/30/2019 major marketing problems faced by msme sectors
18/43
MAJOR MARKETING CHALLENGES FACED BY MSME SECTOR Page 18
PERFORMANCE AND ACHIVEMENT
National Small Industries Corporation Ltd (NSIC), a Government of India enterprise
under the aegis of Ministry of MSME, achieved record operational and financial
performance in terms of gross volume of business and profitability in the recently
concluded financial year 2009-10. The year witnessed the Corporation achieved new
heights on all parameters. There was substantial improvement in enhancing the
company s outreach and its volume of operations. With the opening of new offices the
Corporation expanded its reach to serve larger number of MSMEs, making the total
number of NSIC offices 123. The Business Turnover of the Corporation for the year jumped to Rs. 4488 crore over the previous year s turnover of Rs. 3508 crore.
NSIC continued with its efforts to provide various raw materials like steel,
aluminium, zinc, copper, paraffin wax etc to MSMEs through arrangements made
with bulk manufacturers of these materials. In addition, the Corporation also started
distribution of Coal to MSMEs in West Bengal. Total raw material facilitation to
MSMEs increased from 302164 MTs in the year 2008-09 to 355719 MTs in the year
2009-10.NSIC organized 963 Marketing Promotion events including participation /
organization / co-sponsoring of exhibitions, buyer-sellers meets and marketing
campaigns as compared to 874 events in the previous year 2009- 10. NSIC s,
Techmart 2009 organized at the India International Trade Fair during November, 2009 was awarded Gold Medal for outstanding display of the MSMEs technology
and products.
During the year, NSIC continued its initiative to set up new Training-cum Incubation
centres under Public-Private Partnership (PPP) mode for the purpose of inculcating
entrepreneurial skills in the youth by way of skill development through which they
become employable or create their own enterprises. So far, 45 such centres have been
established at various locations in the country. These are in addition to three
incubation centres opened at our technical centres. During the year, 8364 candidates
were trained at these centres.
7/30/2019 major marketing problems faced by msme sectors
19/43
MAJOR MARKETING CHALLENGES FACED BY MSME SECTOR Page 19
CHAPTER-3
OBJECTIVES OF
THE STUDY
7/30/2019 major marketing problems faced by msme sectors
20/43
MAJOR MARKETING CHALLENGES FACED BY MSME SECTOR Page 20
Objectives of the study
Objectives are the guiding lights of a study. The present study was undertaken to
achieve the following objectives: -
To know about marketing challenges faced by MSME sectors. To know the effectiveness of various MSME marketing strategy. To enhance marketing capabilities & competitiveness of the MSMEs. To update MSMEs about the prevalent market scenario and its impact on
their activities.
To facilitate the formation of consortia of MSMEs for marketing of theirproducts and service.
To enrich the marketing skills of the micro, small & medium entrepreneurs.
7/30/2019 major marketing problems faced by msme sectors
21/43
MAJOR MARKETING CHALLENGES FACED BY MSME SECTOR Page 21
CHAPTER - 4
RESEARCH
METHODOLOGY
7/30/2019 major marketing problems faced by msme sectors
22/43
MAJOR MARKETING CHALLENGES FACED BY MSME SECTOR Page 22
RESEARCH METHODOLOGY
Research Methodology is a way to systematically solve the research problem. The
Research Methodology includes the various methods and techniques for conducting a
Research. M arketing Research is the systematic design, collection, analysis and
reporting of data and finding relevant solution to a specific marketing situation or
problem. D. Slesinger and M.Stephenson in the encyclopedia of Social Sciences
define Research as the manipulation of things, concepts or symbols for the purpose
of generalizing to extend, correct or verify knowledge, whether that knowledge aids in
construction of theory or in the practice of an art.
Research is, thus, an original contribution to the existing stock of knowledge making
for its advancement. The purpose of Research is to discover answers to the Questions
through the application of scientific procedures. Our project has a specified
framework for collecting data in an effective manner. Such framework is called
Research Design . The research process followed by us consists of following steps:
RESEARCH DESIGN
This research was descriptive and conclusion oriented research.
Conclusion Oriented Research: -Research designed to assist the
decision maker in the situation. In other words it is a research when we give
our own views about the research.
Descriptive Research: -A type of conclusive research, which has as its
major objective the description of something-usually market characteristics or
functions. In other words descriptive research is a research where in researcher
has no control over variable. It just presents the picture, which has already
studied.
7/30/2019 major marketing problems faced by msme sectors
23/43
MAJOR MARKETING CHALLENGES FACED BY MSME SECTOR Page 23
Sources of data
Data Collection: Information has been collected from both Primary and
Secondary sources of data collection.
Primary sources- Primary data are those, which are collected are fresh and
for the first time and thus happen to be original in character. Primary data had
been collected by conducting surveys through questionnaire, which include
several questions and personal and telephonic interview.
Secondary sources - Secondary data are those, which have already been
collected by someone else, which already had been passed through thestatistical process. Secondary data had been collected through websites,
newspapers and journals.
SAMPLING DESIGN
Sampling can be defined as the section of some part of an aggregate or totality on the
basis of which judgment or an inference about aggregate or totality is made. The
sampling design helps in decision making in the following areas: -
Universe of the study -The universe comprises of two parts as theoretical universe
and accessible universe
Theoretical universe - It includes all the MSMEs throughout the universe.
Accessible universe - It includes the MSMEs in Rourkela city.
Sample Frame -Sample frame was Small and Medium enterprises all over in
Rourkela .
Sample Unit- Sampling unit is the basic unit containing the elements of the
universe to be sampled. The sampling unit of the present study was MSMEs located
in Rourkela.
7/30/2019 major marketing problems faced by msme sectors
24/43
MAJOR MARKETING CHALLENGES FACED BY MSME SECTOR Page 24
Sample Size - Sample size is the number of elements to be included in a study.
Keeping in mind all the constraints 30 respondents were selected.
Sampling Techniques - The sampling techniques used were convenience
technique and simple random sampling technique.
Type of questionnaire used open and closed both question use to conduct this
research .
7/30/2019 major marketing problems faced by msme sectors
25/43
MAJOR MARKETING CHALLENGES FACED BY MSME SECTOR Page 25
CHAPTER 5REVIEW
OFLITERATURE
7/30/2019 major marketing problems faced by msme sectors
26/43
MAJOR MARKETING CHALLENGES FACED BY MSME SECTOR Page 26
REVIEW OF LITERATURE
A research literature review is a systematic, explicit and reproducible method for
identifying, evaluating and synthesizing the existing body of completed and recordedwork produced by researchers, scholars and practitioners. This report provides an
organized critical account of information, ideas and knowledge that has been
published (or is available in the public domain) on MSME access to credit. The
empirical analysis has to be built on a comprehensive review of relevant in the area of
the study. A review of the available literature on micro small scale industries is
undertaken with a view to identify possible areas of enquiry. It also provides the
necessary background for the present study.Vijay Kumar (2011)
Talking about a few basic issues being faced by the MSMEs sector is lack of awareness,
investment and resource, "Zero wastage and continuous design improvement hold the key
to survival and growth of MSMEs."
Tarak Shah (2011)
The major problem of inadequate financing to MSMEs needs an urgent attention amongst
the others such as adequate credit delivery to MSMEs, better risk management,
technological upgradation of Banks esp. Public Sector Banks, attitudinal change in
Bankers. The MSMEs sector is considered to be an untapped market for financial
institutions in India. The only way out of the mire is that the Indian manufacturing sector
could be strengthened by the existing rural systems and making them self-sufficient. This
could take place only by helping Small and Medium Enterprises and the rural artisans
(people with innate skills and talents) in becoming effective and competitive enough to
face the future. A number of issues and business practices of global players and markets
can be observed, learnt and adapted for ensuring competitiveness of Indian MSMEs.
Roopa Kudva (2011)
The Mangining Director of CRISIL says it is not easy to attract MSME s to do a credit
rating, however it is important to have the credit rating done if the MSME s wants to
position itself in the international market as well as there is a rebate from the bankers in
the lending terms. Unfortunately the 75% subsidy is available only for the first time /year
the MSME gets its rating done subsequently they have to bear the entire cost next year
7/30/2019 major marketing problems faced by msme sectors
27/43
MAJOR MARKETING CHALLENGES FACED BY MSME SECTOR Page 27
which is a strain on the purse strings. . Producing a new framework for rating SMEs is
important, because most would receive low ratings on traditional scales solely because of
their small size. The benchmarks used for large corporations have to be abandoned
MSME Chamber of India (2011)
MSMEs are now exposed to greater opportunities than ever for expansion and
diversification across the sectors. Indian market is growing rapidly and Indian
entrepreneurs are making remarkable progress in various Industries like Manufacturing,
Precision Engineering Design, Food Processing, Pharmaceutical, Textile & Garments,
Retail, IT and ITES, Agro and Service sector.
B. Yerram Raju (2011)
The problem which continues to be a big hurdle for the development of the sector is lack
of access to timely and adequate credit. The Abid Hussain Committee on SSIs (1997)
examined the problems of the SSI sector and recommended a package of policies to
restructure the industry in the context of current global economic changes. The Expert
Committee was of the view that the existing institutional structure for delivering credit to
SSEs needs a thorough overhaul. It endorsed the recommendations of the Nayak
Committee and urged the RBI to implement the same. The Committee recommendedrestructuring of financial support through SFCs and SIDCs, tapping of other sources of
funding for SSEs, extending credit rating services to small units, and addressing the credit
needs of tiny units to ensure that they are not bypassed by the commercial banking
system.
Parijat Upadhyay, Saeed Jahanyan, Pranab K. Dan(2011)
The paper attempts to assess empirically the four factors like project execution
competency; product and vendor perspective; organizational climate; and technical
perspective which are most critical in the ERP implementation process from the
perspective of the Indian MSMEs.
Govind Sharma(2011)
Do M SME s Need to Strategize? Business Strategy Series, Vol 12, Issue 4,
The author says that M SME s need to strategize and a model should be created which
will assist the top management and a low cost ERP model should be designed keeping in
7/30/2019 major marketing problems faced by msme sectors
28/43
MAJOR MARKETING CHALLENGES FACED BY MSME SECTOR Page 28
the need of the MSME. The practical implications are for the labour intensive countries
which are not capital intensive but generate create employment
Mehul Kapadia (2011)
Every bit of capital investment is crucial for an MSME. Seasonal peaks are one of the
greatest reasons for companies under-provisioning or over-provisioning. This can later
result in a heavy loss and idle resources. All businesses undergo a transition at various
points. Whether you run a full-fledged enterprise, a medium-sized business venture or
even a smaller, relatively newer business, updating business IT processes is a critical step
in your enterprise life cycle. In fact, some businesses even have to undergo multiple
transformation phases. Large enterprises have the capability and the resources to execute
such transformations smoothly, but MSMEs face a significant challenge in doing so,
given their limited resources and capital.
Sangeeta Baksi (2010)
TIFAC is of the opinion that, there are few programs which are of utmost importance in
the MSME- led technology development efforts, which promote the public private
partnership. Moreso the technological development has never been a straight forwards
process. Technological innovations have been the key to the survival of the MSMEs. Fourdecades of planned development have elevated India to a stage, where the country
demonstrates some remarkable strength in modern technologies for achieving
development goals.
C.B.Bhave(2010)
In is opinion the MSME s are a c atalyst in most of the economies and constitute a major
part of the industrial activity. MSME s generally face financial crisis. He foresees that the
SME Stock Exchange will be a great boon to this sector as it will provide a wide pool of
capital, increased status and credibility and other benefits.
Raja, MSME Times (2010)
The challenges that the MSMEs face today seem to be primarily in the area of ICT and to
quote specifically, ERP. The MSMEs lament that whenever they approached the usual
ERP firms, the first question they were faced with was that of their turn-over as they are
quoted based on their turnover. The question that arises is does the Indian MSME
7/30/2019 major marketing problems faced by msme sectors
29/43
MAJOR MARKETING CHALLENGES FACED BY MSME SECTOR Page 29
presents an opportunity for Technology Startups to deliver smaller and much palatable
solutions, which fit both the pocket and the background of the MSMEs
Seema Sharma & Milind Sharma (2010)
The purpose of this paper is to examine the relative production efficiency of state-wise
clusters in the registered small-scale sector in India.The author says that, most of the
states are found to be operating at decreasing returns to scale, which signifies the scope
for investment and further employment generation.
Porter M. E (2010)
The author says the major objectives of the new industrial policy package should be to
build on the gains already made, correct the distortions or weaknesses that may have crept
in, maintain a sustained growth in productivity and gainful employment and attain
international competitiveness.
Rajesh Dubey (2010)
The author says Actually, Private Equity and Venture Capitalists firms would be
interested in investing in a listed company. Credit ratings would help an entity to get an
exposureFirst of all, the fear is that the MSME may not get a good rating. Second is
probably the financial statements that they have prepared to get rated do not reflect their
true and fair picture of their performance. And, the rating agencies will not look beyond
that. These could be the two main reasons why SMEs may not be interested while going
for a rating. We need to look at what is their management and how sound a promoter is,
or how resilient the SME has been and their overall performance.
Report of the Task Force on MSME (2010)
The MSME sector in India is highly heterogeneous in terms of the size of the enterprises,
variety of products and services produced and the levels of technology employed. While
one end of the MSME spectrum contains highly innovative and high growth enterprises,
more than 94 per cent of MSMEs are unregistered, with a large number established in the
informal or unorganized sector. Besides the growth potential of the sector and its critical
role in the manufacturing and value chains, the heterogeneity and the unorganised nature
of the Indian MSMEs are important aspects that need to befactored into policy making
and programme implementation.
7/30/2019 major marketing problems faced by msme sectors
30/43
MAJOR MARKETING CHALLENGES FACED BY MSME SECTOR Page 30
Risk And Capital Management in MSMEs - by SIDBI (2010)
The advent of globalization offers both challenges and opportunity to MSMEs. The
challenge for them is to remain competitive and consistently deliver value to customers.The opportunities available include tapping the global markets and growth in scale by
forging strategic partnerships. Internationally, Risk Capital forms the basis of
entrepreneurial ecosystem. Risk Capital is an important instrument for not only start-ups
and innovative / fast growing companies but is also critical to those looking at growth.
However the sources of risk capital are limited in developing countries. It is encouraging
to note that with global integration of economy, emerging markets like India are sought
after destinations for successful Private Equity (PE) funds. However, the PE Funds
continue to focus on larger investments and bigger corporatised units though there are
more success stories of software and other new economy enterprises in the medium sector
being assisted by Venture Capital [VC] Funds. Majority of the MSMEs are owner driven
with lesser inclination towards formal organizational structures. The non corporate
structure and small size of the majority of MSMEs in India makes the venture capitalists
and other risk capital providers reluctant to investing in them due to higher transaction
costs and difficulties in exits out of such investments. Thus, it is critical to have
appropriate risk capital products and focused funds for MSMEs of different size andconstitution.
Shamika Ravi (2009)
The MSME sector has often been termed the engine of growth for developing
economies. We begin with an overview of this sector in India and look at some recent
trends which highlight the development and significance of this sector vis--vis the Indian
economy. Over the last few years, there have been major policy changes at the federal
and state level aimed at consolidating and developing this sector. The MSME
Development Act of 2006 is perhaps the most crucial of these recent policy changes.
India Microfinance Editorial Board (2009)
Every crisis throws up an opportunity. And the global economic meltdown is no
exception. The recession threw up a few such opportunities for passionate entrepreneurs
who, undeterred by the turmoil outside their offices, built their businesses while many
7/30/2019 major marketing problems faced by msme sectors
31/43
MAJOR MARKETING CHALLENGES FACED BY MSME SECTOR Page 31
others were either collapsing or struggling to survive. A few passionate entrepreneurs
are making the best out of recession
Krishnamurthy Subramanian(2009)
This article deals with some factors critical to the success of the mergers and acquisitions
based on the comparisons between failed and successful deals. A merger / acquisitions
would make sense only if it leads to certain operational and/or financial advantages that
the individual entities could harness by themselves thereby creating value for
shareholders of both protagonist firms.
Ramesh V Penumaka (2009)
It reflects that while the government can be a facilitator of growth and promoter of equity
, the role of the large enterprises is also critical, The MSME could be the steroid the
Indian economy needs at this juncture. The SME provides not only the much needed
boost for growth, employment and exports but more significantly, contributes to
geographical and social equity.
Krishna Tanuku (2009)
India can achieve its socio-economic objectives by focusing on gainful employment for
millions of educated youth and by helping millions of others transition from an
overburdened agricultural sector to the small-scale manufacturing and service sectors.
Sankar De (2009)
This article potrays the enormity of the challenge and outlines a possible partial remedy.
MSME s in India face may challenges, but perhaps none are as difficult as the challenge
of financing , both short term and long term. Poor profitability and lack of access toformal capital markets and institutions result in heavy dependence on alternative
financing challenges which is generally more costly than funding from normal sources
and creates a vicious cycle in the pattern of funding.
7/30/2019 major marketing problems faced by msme sectors
32/43
MAJOR MARKETING CHALLENGES FACED BY MSME SECTOR Page 32
Krishna B Kumar (2009)
The author says that the challenge is to enhance economic participation among those at
the bottom rungs and facilitate the climb, without tripping up those who are at higherrungs and encouraging entrepreneurship is one way of address this dilemma.
Ravi Jagannathan, Mudit Kapoor, Ernst Schaumburg (2009)
The author says, the global economy is in recession and unemployment rates are soaring,
but the financial crisis is a mere symptom and not the disease itself. The fundamental
cause of the crisis is the labour supply shock and not the glut in liquidity which is often
blamed. A higher savings rate in the debt laden developed nation and greater capital flows
to the developing nation will correct the structural imbalances in global capital flows.
Bhatendra Kumar Gupta (2008)
In India, the MSME sector is the second largest employer after agriculture. With the
growth in the Indian Economy it is of need for the MSME to raise capital is becoming
increasingly critical. He says that there is a need for the dedicated STOCK Exchange for
the MSME sector to cater to their needs better which are different from the large
industries.
Rajesh.K. Pillania (2008)
The author says In terms of relevance, latest and timeliness, Indian and international
automotive components manufacturers pay little credence to the knowledge available
through government institutions and industry associations. Industry associations and
governments need to have a re-appraisal of their practices and make their working more
useful, fast and updated.RBIs Report of Working Group on Rehabilitation of Sick SMEs
(2008)
A Working Group was constituted under the chairmanship of Dr. K. C. Chakrabarty,
Chairman and Managing Director, Punjab National Bank to suggest measures for
improving credit flow to the MSME sector as well as measures for early implementation
of rehabilitation/nursing of sick MSME units by examining feasibility of bringing inadditional capital through alternative routes, such as, equity participation, venture
7/30/2019 major marketing problems faced by msme sectors
33/43
MAJOR MARKETING CHALLENGES FACED BY MSME SECTOR Page 33
financing, etc. As an incentive for proper restructuring package at the time of
rehabilitation, necessary support for business restructuring, modernization, expansion,
diversification and technological up gradation as may be felt necessary by the lenders
may also be encouraged. Support schemes like Credit Linked Capital Subsidy Scheme in
case of units in other (than rural) areas, KVIC Margin Money Scheme (for units in rural
areas) may be extended for rehabilitation packages also. Many other recommendations
have also been given.
Keshab DAS (2007)
Despite an elaborate and dynamic policy framework, the progress of Indian MSMEs
continues to be hindered by some of the basic constraints as poor credit availability, low
levels of technology (hence, low product quality and limited exportability) and inadequate
or no basic infrastructure, both physical and economic. It is too early to assess the impact
and effectiveness of a plethora of new policy measures, announced very recently. He says
that much of the potential of small firms to grow and nurture innovativeness is shaped by
the kind of infrastructure, both physical and economic, available and can be accessed at
reasonable costs. The MSMED ACT attaches importance to networking with stakeholders
both upstream and downstream in the entire global value chain, from raw material
procurement to processing/manufacturing to marketing to customer services.Madhu Bala (2007)
The Government has recognized its importance for the economy and its intention towards
promotion of SSIs is reflected in various Industrial policy Resolutions right from the year
1948. The primary objective of the Small Scale Industrial Policy during the nineties was
to impart more vitality and growth-impetus to the sector to enable it to contribute its mite
fully to the economy, particularly in terms of growth of output, employment and exports.
The sector has been substantially delicensed. Further efforts would be made to deregulate
and debureaucratise the sector with a view to remove all fetters on its growth potential,
reposing greater faith in small and young entrepreneurs. All statutes, regulations and
procedures were reviewed and modified, wherever necessary, to ensure that their
operations did not militate against the interests of the small and village enterprises.
7/30/2019 major marketing problems faced by msme sectors
34/43
MAJOR MARKETING CHALLENGES FACED BY MSME SECTOR Page 34
Y.Srinivas (2005)
MSMEs play a very significant role in the economy in terms of balanced and sustainable
growth, employment generation, development of entrepreneurial skills and contribution toexport earnings. However, despite their importance to the economy, most SMEs are not
able to stand up to the challenges of globalization, mainly because of difficulties in the
area of financing. With the opening up of the Indian economy, it has become necessary to
consider measures for smoothening the flow of credit to this sector. Small and Medium
Enterprises (SMEs) play a very significant role in the economy in terms of balanced and
sustainable growth, employment generation, development of entrepreneurial skills and
contribution to export earnings. However, despite their importance to the economy, most
SMEs are not able to stand up to the challenges of globalization, mainly because of
difficulties in the area of financing.
Sickness and Rehabilitation of MSMEs in India(2005)
The author feels that the SMEs will fail in a sector for a variety of reasons. Global
competitiveness has strained India s already weak infrastructure, which severely hinders
the production of small scale industries. There are a multitude of reasons for failure,
however, not all of them related to competition. Lack of knowledge, available capital,qualified workers or even motivation on the part of the owner are all viable reasons for
business failure. Whatever the reason for failure, the business must have some sort of
recourse to declare its sickness. In India, what constitutes this mechanism is relatively
unclear, and despite current progress, has left much inefficiency.
Krishna Kumar (2003)
He views that In India foreign collaborations have generally been to have the
technological transfer which involves high cost. It is important to understand the
MSME s single handedly cannot afford this cost, however if a group of MSME s of
similar nature of work come together the burden of the foreign collaborations can be
shared effectively.
Kristin Hallberg, (2000)
Governments in both industrialized and developing countries provide a wide variety of
programs to assist small- and medium-scale enterprises (SMEs). Despite the success of
7/30/2019 major marketing problems faced by msme sectors
35/43
MAJOR MARKETING CHALLENGES FACED BY MSME SECTOR Page 35
SME strategies in a few countries, the majority of developing countries have found that
the impact of their SME development programs on enterprise performance has been less
than satisfactory? This paper investigates the economic rationale for intervention in
support of small- and medium-scale enterprises, on both theoretical and empirical
grounds. It also suggests a framework for SME intervention to help the Bank Group's
client countries design SME strategies, gauge the effectiveness of assistance programs,
and achieve the objective of raising SME competitiveness.
Teijiro Uyeda and his associate (2002)
As part of a review of international programme studied japans small industries. Small
industries played an important role in japans industrialization. Their onslaught on the
international market had created serious problems for the market economies. The
study investigated the status and the representative character of the small scale
industry in Japanese economy.
Valasama Antyony,(2002)
In her article titled Prospects and growth of SSIs in India: An overview . Observes
that adequate and timely availability of working capital and marketing avenues for the
SSI products should be ensured for improving their competitive strength in the
domestic and global markets. There is the need for providing better information and
efficiency networking for the SSIs besides development of quality infrastructural
facilities.
Panda (2003)
In his case study of hotel industries in Nagaland examines marketing management in
small service enterprises. He finds that sales activity in a majority of cases is managed
by hired managers. The delegation of sales function is found to have a positive
association with the level of formal education of entrepreneurs. The entrepreneurs
appear to sell, rather than market their service. In the perception of the majority of the
entrepreneurs, sales promotion activity is an unnecessary activity that invites the
attention of extortionists. According to panda, 70 per cent. The present study lies in its
incorporation of the need for the right type of marketing research into the industries
development programme.
7/30/2019 major marketing problems faced by msme sectors
36/43
MAJOR MARKETING CHALLENGES FACED BY MSME SECTOR Page 36
CHAPTER-6
DATA ANALYSIS AND
FINDINGS OF THE
STUDY
7/30/2019 major marketing problems faced by msme sectors
37/43
MAJOR MARKETING CHALLENGES FACED BY MSME SECTOR Page 37
As per the field survey conducted, access to finance & Lack of Man power is the
most severe concern as well as constraint for MSMEs in India. However there are
some differences regarding how different types of firms rate access to finance as an
obstacle. 38 percent of micro-manufacturing firms report it as the most severe
obstacle to operations & Manpower compared to only 6 percent of IT firms.
Other obstacles identified as a major concern by MSMEs are poor delivery of
electricity, corruption and high tax rates and onerous tax administration.
Problems related to access to finance stems from two different sources. The first
concerns involuntary exclusion, wherein banks discriminate against small borrowers
because of higher transaction costs and information asymmetry. Secondly, MSMEs
may not access finance because of voluntary exclusion. In this case, firms choose not
to pursue formal financing for a variety of reasons, including the availability of
informal lending sources or the lack of a desire to grow. We found evidence of both
involuntary and voluntary exclusion in the case of MSMEs in India.
Based on our Area-level analysis of access to finance & Lack of Manpower, there isconsiderable variation across states in lending to Micro &small enterprises. However,
these differences are not a result of differences in financial laws across states. In
India, relevant banking laws are promulgated at the national level. Thus, the wide
disparities between states result from factors such as their respective bureaucratic
effectiveness, degree of legal protection, and progress with economic development
initiatives.
7/30/2019 major marketing problems faced by msme sectors
38/43
MAJOR MARKETING CHALLENGES FACED BY MSME SECTOR Page 38
MARKETING PROBLEMS FACED
Sl.no Marketing problems Percentage
1 Low Quality 71.05
2 Competitors 89.47
3 Price Fixation 60.53
4 High Cost of Marketing Personnel 55.26
5 Sales promotion 60.53
6 Distribution Channels 76.38
7 Non Availability of Packing Material 65.79
(Source: Primary Data)
7/30/2019 major marketing problems faced by msme sectors
39/43
MAJOR MARKETING CHALLENGES FACED BY MSME SECTOR Page 39
71.05 percent of the sample units have faced heavy problems regarding the quality of
their products. 89.47 per cent of the sample units have faced heavily problems with
their competitors. 60.53 per cent of the units have faced moderately the problems of
fixing he price for their product 55.26 per cent of sample units have faced heavily the
problems of high cost of marketing personnel. 60.53 per cent of the sample units have
faced heavily problems in sales promotion. 73.68 per cent of he sample units have
heavily experienced the problems of distribution of their products. 65.79 per cent of
the sample units in the district have experienced moderately the problems grouped as
other
Findings of the study
The quality parameters do not meet the standards of the market due to poor quality
inputs and lack of standardized skills of the workers.
Big players outplay the small players in this sector as they lack proper marketing
channels and portraying the products in the domestic and international market. Obsolete technology used in manufacturing the products result in the formation of
poor quality products.
Pricing is a major constraint as the price in manufacturing the product often exceeds
the final product cost thus making these enterprises suffer loss
No standard methodologies adopted for pricing of the product. The availability of raw materials in the premises of the establishment results in
costly procurement of the raw materials. Promotional strategies are weak and lack of awareness among entrepreneurs results
in the weak promotion of the products
Lack of government support and ample funding in the industry as a whole is not
expedited and industries are becoming sick in the frame of time.
7/30/2019 major marketing problems faced by msme sectors
40/43
MAJOR MARKETING CHALLENGES FACED BY MSME SECTOR Page 40
Chapter-7
Conclusion Suggestions
and Limitations of the
Study
7/30/2019 major marketing problems faced by msme sectors
41/43
MAJOR MARKETING CHALLENGES FACED BY MSME SECTOR Page 41
LIMITATIONS OF THE STUDY
Due to constraints of time and resources, the study is likely to suffer from certainlimitations. Some of these are mentioned here under so that the findings of the study
may be understood in a proper perspective.
The limitations of the study are:
The research was carried out in a short period.
The sample size and the parameters were selected accordingly so as to finish
the work within the given time frame.
The information given by the respondents might be biased as some of themmight not be interested to give correct information.
Some of the respondents could not answer the questions due to lack of
knowledge.
Some of the respondents of the survey were unwilling to share information.
7/30/2019 major marketing problems faced by msme sectors
42/43
MAJOR MARKETING CHALLENGES FACED BY MSME SECTOR Page 42
Conclusion
Small and Medium Enterprises (SMEs) contribute to economic development invarious ways such as creating employment opportunities for rural and urban
population, providing goods & services at affordable costs by offering innovative
solutions and sustainable development to the economy as a whole. SMEs in India face
a number of problems - absence of adequate and timely banking finance, non-
availability of suitable technology, ineffective marketing due to limited resources and
non availability of skilled manpower.
Small and Medium Enterprises (SME) play an important role in the development of acountry. There are around 26 million MSME units in India, of which 13 million are
SMEs. SMEs contribute nearly 45% share of manufactured output, accounting for
40% in overall exports of the country and providing employment to about 32 million
people.
The Micro, Small and Medium Enterprises (MSME) sector contributes significantly
to manufacturing output, employment and exports of the country. It is estimated that
in terms of value, the sector accounts for about 45 % of the manufacturing output and
40% of total exports of the country.
To make this sector to become more vibrant and significant player in development of
the Indian economy the Government of India has taken various initiatives. The
definition and coverage of the MSME sector was broadened MSME Development Act
2006 which recognized concept of 'enterprise' to include both manufacturing and
service sector besides defining medium enterprises setting up a Board for developing
policy frameworks and indicating pro curement policy
7/30/2019 major marketing problems faced by msme sectors
43/43
Reference
BOOKS
Kothari, C.R. (1995). Research Methodology. Edition 2005. New Delhi: Tata
McGraw Hill.
Lee, B.C. (2000). The Role of Smes in National Economies in East Asia..Edition
2002.southampthon: Edward Elgar Publishing.
WEBSITES
http://msme.gov.in/msme_ars.htm
http://www.nsic.co.in/corporateinfo.asp
http://msme.gov.in/msme_trnginst.htm
http://www.ntrees.in/html/what-is-msme.htm
http://msme.gov.in/Outcome_Budget-MSME-2010-11.pdf
http://msme.gov.in/MSME_AR_ENG_2009_10.pdf
http://www.banknetindia.com/banking/91027a.htm
http://www.indianexpress.com/news/special-status-plan-for-msme/737376/ http://www.dnb.co.in/MSME
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1080505
http://www.msmechamberofindia.com/rol_of_msme_sector.aspx
http://www.msmechamberofindia.com/challenges_to_msme_sector.aspx
www.indiansmechamber.com/challenges_to_msme.php
www.wcgt.in/html/assets/MSMEVision2020
http://msme.gov.in/msme_ars.htmhttp://www.nsic.co.in/corporateinfo.asphttp://www.nsic.co.in/corporateinfo.asphttp://msme.gov.in/msme_trnginst.htmhttp://msme.gov.in/msme_trnginst.htmhttp://www.ntrees.in/html/what-is-msme.htmhttp://www.ntrees.in/html/what-is-msme.htmhttp://msme.gov.in/Outcome_Budget-MSME-2010-11.pdfhttp://msme.gov.in/Outcome_Budget-MSME-2010-11.pdfhttp://msme.gov.in/MSME_AR_ENG_2009_10.pdfhttp://msme.gov.in/MSME_AR_ENG_2009_10.pdfhttp://www.banknetindia.com/banking/91027a.htmhttp://www.banknetindia.com/banking/91027a.htmhttp://www.indianexpress.com/news/special-status-plan-for-msme/737376/http://www.indianexpress.com/news/special-status-plan-for-msme/737376/http://www.dnb.co.in/MSMEhttp://www.dnb.co.in/MSMEhttp://papers.ssrn.com/sol3/papers.cfm?abstract_id=1080505http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1080505http://www.msmechamberofindia.com/rol_of_msme_sector.aspxhttp://www.msmechamberofindia.com/rol_of_msme_sector.aspxhttp://www.msmechamberofindia.com/challenges_to_msme_sector.aspxhttp://www.indiansmechamber.com/challenges_to_msme.phphttp://www.indiansmechamber.com/challenges_to_msme.phphttp://www.wcgt.in/html/assets/MSMEVision2020http://www.wcgt.in/html/assets/MSMEVision2020http://www.indiansmechamber.com/challenges_to_msme.phphttp://www.msmechamberofindia.com/challenges_to_msme_sector.aspxhttp://www.msmechamberofindia.com/rol_of_msme_sector.aspxhttp://papers.ssrn.com/sol3/papers.cfm?abstract_id=1080505http://www.dnb.co.in/MSMEhttp://www.indianexpress.com/news/special-status-plan-for-msme/737376/http://www.banknetindia.com/banking/91027a.htmhttp://msme.gov.in/MSME_AR_ENG_2009_10.pdfhttp://msme.gov.in/Outcome_Budget-MSME-2010-11.pdfhttp://www.ntrees.in/html/what-is-msme.htmhttp://msme.gov.in/msme_trnginst.htmhttp://www.nsic.co.in/corporateinfo.asphttp://msme.gov.in/msme_ars.htm