THE INSTITUTE OF COMPANY SECRETARIES OF INDIA 38 th NATIONAL CONVENTION OF COMPANY SECRATARIES. EMERGING CONTRIBUTORS TO INCLUSIVE GROWTH MICRO SMALL AND MEDIUM ENTERPRISES S.K.AGGRAWAL, MA., LL.B., M.B.A., F.C.S. DIRECTOR, VIMAL ORGANICS LTD. SEPTEMBER 2, 2010.
THE INSTITUTE OF COMPANY SECRETARIES OF INDIA38th NATIONAL CONVENTION OF COMPANY SECRATARIES
EMERGING CONTRIBUTORS TO INCLUSIVE GROWTH
MICRO SMALL AND MEDIUM ENTERPRISES
MA., LL.B., M.B.A., F.C.S.
VIMAL ORGANICS LTD.
SEPTEMBER 2, 2010
Let us look at some data
ANNUAL REPORT 2009-2010
The Sector accounts for :
Recognizing the contribution and potential of the sector, the definitions and coverage of the Small Scale Industry (SSI) sector were broadened significantly under the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 which recognized the concept of “enterprise” to include both manufacturing and services sector besides, defining the medium enterprises.
COMPARATIVE DATA ON GROWTH RATES OF MSE SECTOR
FICCI – MSME Intellectual Property Facilitation Centre in association with MSME Ministry, Govt. of India
SME STOCK EXCHANGE
SMEs contribute around 20% of GDP and are the largest generator of employment (approximately 25 million). In India, SME sector is the second largest employer, after agriculture. With the Indian economy growing at more than 9 percent and size of the economy crossing the $1 trillion mark, the need of SMEs to raise capital is becoming increasingly critical – SEBI discussion Paper
2.“ At present, nearly 3000 SMEs trade through BSE which number is expected to grow manifold”
ET,Friday June 4,2010
3.There are 210,000 listing under the heading “ SME Stock Exchange in India,” at the Google Search Engine.
IN THIS BACKGROUND
LET US EXAMINE
OF THE SME SECTOR
1 Instant decision making
6Negligible labour problems: interpersonal relationship between the owners and the employees is intimate.
“That Love is all there is,
Is all we know of love,
it is enough,
the freight should be proportionate to the groove”.
The Economic Times, 20th August 2010, Page-4
This confirms that an individual CS can carve out a profitable niche for himself.
A PRESENTATION BY A COMPANY SECRETARY TURNED ENTREPRENEUR