Role of MSME Sector in the Development of National Economy: An analytical Study

Abstract

The importance of the “Micro, Small, and Medium Enterprises” (MSME) sector in the growth of the national economy is the main topic of this essay. MSMEs are regarded as the backbone of the economy since they make a considerable contribution to GDP, job creation, and general economic growth. The goal of the article is to undertake an analytical study to assess the contributions of MSMEs to the national economy, identify the problems they face, and suggest solutions to help MSMEs flourish. Interviews with MSME owners and managers, official statistics, and pertinent literature are only a few of the primary and secondary data sources that will be used in this study. Policymakers, MSME stakeholders, and development professionals will all benefit from the study's findings, which will give them new perspectives on how to encourage MSME development and boost the overall efficiency of the national economy.