INFLUENCE OF MICROSCALE ENTERPRISE IN GROSS DOMESTIC PRODUCT

The industries are regarded as life stream of the economy of any nation. This sector is divided into micro, small and big industries, the big industries require the skilled worker who have some kind of specialization whereas small and micro industries are able to accommodate the less skilled or unskilled worker as well, even these companies doesn’t require any special kind of expertise from their worker. This is the reason why these businesses are mass recruiter of the individual from a specific class as people living in poverty don’t have any formal education and skills. Apart from this, this sector involved in manufacture of such goods which are of everyday use in home and also having a market in India as well as abroad and create a decent flow of money from one hand to other. This industry contributes substantially in GDP (Gross Domestic Product) of nation and also accumulate the foreign money that would improve the economy of country. Therefore, it is essential to develop and safeguard this sector of business.