It is accepted by most business leaders, policymakers and informed citizens that small and medium enterprises (SMEs) drive economic growth in India. The country has seen policy changes over the decades that can be described as about turns in the jargon of political economy. However, throughout these changes, the SME sector has stayed firm as the pillar of economic strength and employment generation.
SMEs not only play a crucial role in providing large employment opportunities at comparatively lower capital cost than large industries do, they also help in industrialisation of rural areas. SMEs are complementary to large industries as ancillary units and contribute enormously to the socio-economic development of the country. India currently has over 48 million SMEs, which contribute more than 45 per cent of India’s industrial output, 40 per cent of the country’s total exports and create 1.3 million jobs every year.
Despite the sector playing such an important role in the development of India, very few people talk about its contribution. India has a deluge of media entities today across platforms, but hardly anyone talks about SMEs the way corporate titans are talked about. SME Futures is here to change this equation. It is a platform where SME leaders will find their voice and concerns amplified. Through its cutting-edge technology and content that will match the big players in the field of business journalism, SME Futures will become a fair, objective, incisive and data-driven media outlet for the sector and the general reader. Its team of young journalists will hit the road across the country, peep into the chambers of policymakers and industry bodies and speak with stakeholders from the common consumer to traders and producers in text and video formats to offer its readers a comprehensive reportage.
If you have any comments, suggestions and/or contributions to make, feel free to get in touch with the editor at firstname.lastname@example.org or fill the contact form here.
Do not forget to fill the subscription form to receive updates about the most comprehensive stories on SMEs.
To know about the SME Futures events series, click here.