Prospects and Challenges for SMEs in Post WTO Era: An Empirical Study of Furniture Manufacturing SMEs in India
12 Pages Posted: 6 Oct 2009
Date Written: October 4, 2009
Furniture Sector is an important and upcoming sector in India. The Indian Furniture Industry is undergoing transformation due to the new economic policy and business environment in the post World Trade Organisation (WTO) regime. With the delicensing of the entire furniture industry and the removal of the restrictions on foreign investments, the important global players have entered in the Indian furniture industry. It has still a huge scope for either direct entry or through collaborations with the local companies. This paper examines the problems, strategies for investments, competency development, technological upgradation, quality improvement, Govt. Policies, Equity participation by Multi National Companies and overall improvement of this sector in the post WTO regime. The study has been conducted by using data acquired from an extensive survey of Indian SMEs in the Furniture Sector and from the experienced Bankers/Officials/Policy makers of Govt. of India.
Keywords: SMEs, WTO, financing, credit, expansion, technological upgradation, performance
JEL Classification: ERPN, MRN
Suggested Citation: Suggested Citation