Small and medium size enterprises in manufacturing have become a driving force for economic growth in India. It is estimated that half of total or 50% of manufacturing exports of India are accounted by the SME sector. The impetus of large scale industry is definitely more than of an SME, but the number of SME’s in India is far greater than large scale industries which derive its importance.

1. Importance of SME’s in
manufacturing industry
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2. Talk about any industry, they cannot be said as complete even if one of
their aspects is ignored. Small and Medium Enterprises may be small but
as a whole, they have a huge impact on the industry!
Small and medium size enterprises in manufacturing have become a
driving force for economic growth in India. It is estimated that half of total
or 50% of manufacturing exports of India are accounted by the SME
sector. The impetus of large scale industry is definitely more than of an
SME, but the number of SME’s in India is far greater than large scale
industries which derive its importance.
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Talking about jobs and employment, SME’s are one of the largest job-providing sectors
in India. Approx 29 million people in India are employed in this sector! Just behind the
agriculture sector, they top in employing human resource. 90% of industrial units that
are manufactured in India are manufactured by the SME’s. Owing to these factors, they
have a high share in India’s GDP rise.

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SME’s are either suppliers or manufacturers of finished goods. They are dispersed in
different areas and are linked to each other to carry out the manufacturing process. On
the other hand, large scale industries mostly carry out the whole manufacturing process
under their roof, from managing supplies to getting the product ready. This makes
SME’s to connect with several other SME’s and create a chain between them. Many
large scale industries also depend upon SME’s for their supplies.
SME sector has also registered a consistent growth rate compared to the other sectors
in India as it plays a dual role in the manufacturing sector in preparing the finished
goods as well as supplying inputs to the heavy industries.
It is also estimated that the augmentation of SME’s will continue to flourish in the
upcoming years. In the period of 20 years, the level of output by Small scale industries
has increased by 20 folds and it will escalate more quickly in future.

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SME’s can easily adapt to the new changes and trends that hits the market. The
production process can be changed easily and shaped accordingly in an SME, but for
heavy industries, customization of the whole assembly line is required. This is why
SME’s can constantly introduce new products in the market and it keeps their
manufacturing process continuous.
After employment, the continuity of manufacturing in SME’s forms an important
prospect for the Indian economy. The labor and overhead costs are less significant in
SME’s which results in operation at a better rate. Here if a function is not performed
well by the designated SME, it can be substituted with another which isn’t possible in
large scale ones. This is due to the ample availability of options.

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Solution Buggy thereby introduces the sector’s first and only platform where these
SME’s can come even with other SME’s to fulfill their requirements of industrial supplies
and consulting. It is also favorable for large scale industries which look for supplies from
the SME’s. The manufacturing sector has a great impact on the advancement of an
economy and therefore a platform where all the manufacturing heads can address their
needs and can prove very beneficial.

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Industries don’t get started being large; they gradually advance and become one! The
emergence of SME’s is always a good sign for the economy and the sector, as it
indicates the sectors nourishing ethnicity.
The current scenario in the Indian economy is observing an upsurge in the start ups of
these types of industries. If these conditions persist, soon we can say our economy will
surpass the top economies of the world!

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