MSME and Rural Entrepreneurship as Engines of Growth

Abstract

Micro, Small and Medium Enterprises (MSMEs) and rural entrepreneurship play a pivotal role in accelerating inclusive and sustainable economic growth, especially in developing economies like India. They contribute significantly to employment generation, regional balance, poverty reduction, innovation, and export promotion. In the context of globalization and technological advancement, MSMEs and rural enterprises have emerged as vital engines of growth by integrating local resources with global markets. This paper examines the role of MSMEs and rural entrepreneurship in economic development, analyses their contribution to growth, identifies challenges faced by the sector, and suggests policy measures to strengthen their role in the national and global economy.