Prospects and Challenges for Micro, Small and Medium Enterprises ( MSMEs ) in North Bengal – A Study

Commerce

The role of industry in utilisation of natural resources and transforming backward regions into industrial areas is well accepted. Micro, Small and Medium Enterprises or MSMEs are extremely significant as drivers of industrial growth as they require minimum capital investment but provide great opportunity for entrepreneurial development. MSMEs offer countless benefits such as entrepreneurial development, employment generation, development of backward regions, balanced regional development, export promotion, etc. The region of North Bengal, the northern part of the State of West Bengal is strategically important but industrially backward. This has resulted in myriad problems in the region such as poverty, migration, human trafficking, separatist movements, etc. The present paper discusses the prospects and challenges for Micro, Small and Medium Enterprises in the industrial development of North Bengal. The paper concludes that the challenges relating to sustainable development of MSMEs in the region needs to be addressed for strengthening industrial development in the region.

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