Small enterprises to contribute 22 per cent of GDP NEW DELHI: The share of small and medium enterprises (SMEs) in India's gross domestic product (GDP) is likely to go up to 22 per cent by 2012, according to an industry lobby report, released here on Sunday.
The Associated Chambers of Commerce and Industry of India (Assocham) said in the study that the SME sector was upgrading itself technologically. "Technological upgradation will reduce input costs and increase production, which will enable SMEs to contribute 22 per cent to India's GDP against 17 per cent by 2012," it said. Learning Center- http://learning.investorline.co.in/ Mutual funds - http://mutualfunds.investorline.co.in/ Life Insurance - http://insurance.investorline.co.in/ The study, 'SMEs-Tomorrow's Blue Chips', said SMEs, which grew at 35 per cent over the last two years, would register 40 per cent growth driven by technological upgradation. Assocham president Sajjan Jindal said the share of SMEs to the national exports would be up to 44 per cent from 38 per cent in the next five years. He said over 3.2 million SME units were spread across the country, producing around 7,500 items and providing employment to nearly 400 million people. He, however, said the government should look into the problems small and medium units face in getting credit from the public banks and financial institutions. "SMEs are still neglected by banks and financial institutions, mostly in the private sector domain. The public sector banks in India are the only hopes for SMEs," Jindal said. -- Visit site at – http://investorline.co.in/ Learning Center- http://learning.investorline.co.in/ Mutual funds - http://mutualfunds.investorline.co.in/ Life Insurance - http://insurance.investorline.co.in/ Investor Forums- http://forums.investorline.co.in/ Iwebs Open Source Web Publishing Platform - http://webs.investorline.co.in/iwebs/ --~--~---------~--~----~------------~-------~--~----~ Get latest market updates & search internet right from your browser-download our toolbar here- http://investorline.ourtoolbar.com/ Visit our site at – http://investorline.co.in/ Newsroom: http://newsroom.investorline.co.in/ Learning Center- http://learning.investorline.co.in/ Mutual funds - http://mutualfunds.investorline.co.in/ Life Insurance - http://insurance.investorline.co.in/ Investor Journal - http://research.investorline.co.in/ Newscatcher- http://catcher.investorline.co.in/ Interested in Financial Planning-Let us Contact you- http://spreadsheets.google.com/viewform?key=pb_z4f1_zGMg4iBBFT3-SWQ&email=true If you like the site then promote it here- https://www.freetellafriend.com/tell/?url=http://investorline.co.in/blogs/news Create your own free blog on- http://investorline.co.in/blogger Visit this group at http://groups.google.com/group/india-investor -~----------~----~----~----~------~----~------~--~---
