Indian SMEs and their uniqueness in the country

The singular contribution of SMEs is on account of their unique characteristics .Their role in economic activity is manifest in both tangible and intangible ways. If this contribution is to be sustained, then their uniqueness needs to be nurtured in an overt and explicit manner. The Indian experience has shown that it is possible to design targeted interventions, be they area specific like in clusters or be they sector/Sub- sector or product specific. Other countries, be they Asian or OCED, also have policies which aim at similar support. The need of the hour is for us to learn from each other , drawing upon experiences and identify “best practice policies”. These in turn have to meet local conditions and circumstance. A “one size fits all” approach will not work. Nevertheless , there can be no two opinions about the priority that SME policies deserve for achieving the socio justice, along with the individual’s aspirations. * Reader , Department of Economics , Banaras Hindu University ,Varanasi 221005 ** B-Tech, M.B.A.