The Implication of Small-Scale Businesses in Indian Economic Progress

Abstract

Small-scale industries have been identified as an economic growth engine that contributes to the equitable development of both rural and urban regions. The Small-Scale industries sector is a critical component of the Indian economy, contributing significantly to GDP and employment. These small-scale industries have inherent benefits such as low capital intensity, strong employment generating capability, geographically balanced development, and equitable wealth and income distribution. The current article was written with the primary goal of investigating the profile of Small-Scale Industries in India and analyzing the contribution of Small-Scale industries to the Indian economy. The data for the study were gathered from several published papers by the Government of India. According to the data, Small Scale industries make a major contribution to the Indian GDP.