Role of Micro, Small And Medium Enterprises (MSMEs) In Achieving Sustainable Development Goals

Abstract

Micro, Small and medium enterprises (MSMEs) plays a catalytic role in the development of any economy. MSMEs are considered as nurseries for entrepreneurship and innovation around the globe. India is no exception. MSMEs in India are extensively dispersed across the country and produce around more than 6000 diverse range of products and services. There are more than 63 million MSME units operating in different parts of India. These MSME establishments employ around 11 crore people. Given the dynamic and flexible nature of MSMEs, they are considered an essential sector in achieving Sustainable Development Goals (SDGs) set by United Nations. MSMEs have a huge role to play in achievement of SDGs, especially the goals of Poverty Alleviation (Goal 1), Decent Work and Economic Growth (Goal 8) and Industry Innovation and Infrastructure (Goal 9). MSMEs contribution is not restricted to these three goals, they also directly or indirectly help in achieving other goals. In this paper, an attempt has been made to study the role of MSMEs in achieving the SDGs. We have categorized the role of MSMEs by different activity attributes in the achievement of different goals. We have also outlined some suggestive measure which is helpful in making MSMEs more sustainable, which in turn, would help achieve SDGs.

Keywords: MSMEs, Sustainable development, Poverty Alleviation, Industry Innovation, Economic Growth