Rajesh Kumar Shastri

Survival and Growth Strategies for Small- and Medium-Scale Enterprises in India: A Key for Sustainable Development

MSME is a key enterprise for employment, entrepreneurship and economic development in India. Globalisation brought challenges in the small- and medium-scale enterprises to adopt research practices for survival and facing competition with multinationals to sustain competitiveness through lower cost and quality, creating opportunities for growth by innovative ideas and upgradation of technology. This chapter focuses on to develop sustainable development through technological innovation in small- and medium-scale enterprise which has received attention from the government entrepreneurs in the country. Secondly, this explores the Cartel model in food processing units, ayurvedic plants and tribal handicrafts. Thirdly, this chapter provides a viable solution which aims on transferring of skills for facilitating research and development and reward system for the innovator and successor.