MARKETING OPPORTUNITIES AND CHALLENGES TO SME SECTOR IN INDIA 2017

Abstract

Small and Medium enterprise (SME’s) play a vital role for the growth of Indian economy by contributing 45% of industrial output, 40% of exports, employing 60 million people, create 1.3 million jobs every year and produce more than 8000 quality products for the Indian and international markets (CIMSME- Chamber of Indian Micro, Small and Medium Enterprises). Non-availability of suitable technology and ineffective marketing strategies are major problems with respect to marketing of MSME products in India as well as outside India. The paper examines the reasons for the failure of overcoming these problems years together and investigates the ways and means to overcome it with present marketing opportunities and technology. Study initiative plans by the government to strengthen the marketing channels for MSME sector in India. Present opportunities to adopt new era of marketing strategies and sources of improving strength in marketing sector by MSME’s in India.