Indian economy is in growth mode and there is lot of scope for starting SSI. The following are some of the segments that have huge potential.
- Manufacturing activities
- Servicing/repairing services
- Construction services
- Retailing activities
- Wholesale Business
In order to encourage Indian entrepreneurs taking up SSI initiatives the government has reserved the following sectors.
- Food and Allied Industries
- Clock and Watches
- Metal cabinets
- Textile products
- Boats and Trucks body building
Role of SSI in Economic Development
The development of SSI creates jobs and hence increase in per-ca pita income. This in turn increases standards in living. In final form increases nation's GDP. Thus SSI play an important role in the nation's economic development
Advantages of SSI
- Need small capital
- Need simple machinery
- Use under utilized resources and employ under employed population
- SSI can cater to local requirements and can be based on locally available resources and labour
- May be export oriented and earn foreign exchange
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