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CONCLUSION<br />
Research indicates that the key aspects that drive<br />
performance of MSMEs in any economy are<br />
institutional & regulatory frameworks,<br />
entrepreneurship, and access to markets and<br />
resources. A strong focus on all these aspects is<br />
seen in the policies that have shaped up over the<br />
past few years. The main constraints for MSMEs<br />
have been lack of access to credit and skilled<br />
labour. With the ever changing landscape of the<br />
MSME sector, there is a need for policies that are<br />
not just good in intent but are also informed by the<br />
growing body of evidence in development<br />
economics on the MSME sector. There is hope that<br />
with the right infrastructure and the business<br />
ecosystem for MSMEs getting attention from<br />
policymakers and the world at large, MSMEs will<br />
certainly go a long way in contributing to the<br />
economic growth of the country and to achieving<br />
the UN Sustainable Development Goals.<br />
Sources:<br />
MSME Sector-Achievement Report <strong>2017</strong>. Make in<br />
India<br />
Annual Report 2015-16. Delhi: Ministry of MSME<br />
National Manufacturing Policy <strong>2017</strong>, Make in India<br />
Impact of GST on MSME, <strong>2017</strong>, Confederation of<br />
Indian Industries (CII)<br />
Ankur and Mridulya are researchers at the MSME<br />
and Entrepreneurship vertical at <strong>IFMR</strong> LEAD – a<br />
development research organisation housed at the<br />
Institute for Financial Management and Research,<br />
Chennai.<br />
16<br />
*The above article was featured in theindianeconomist.com
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