Micro-, Small- and Medium- Enterprises (MSMEs) hold a pivotal role to play in the growth of the industrial economy. Infact, MSMEs is an important source of employment and entrepreneurship in India. Micro, Small and Medium Enterprises submitted a report in 2013 which stated that the contribution of MSMEs to India’s GDP is 8 percent. Despite the promising growth rate, MSMEs in India are faced with a number of problems like suboptimal scale of operation, technological backwardness, inefficiency in the supply chain , increase in the domestic and global competition, shortages of funds , inefficient manufacturing strategies and fluctuating market scenario. In order to overcome these challenges, and survive, MSMEs need to adopt innovative approaches in different layers like in the business processes, development in product and service, technology advancement, etc.
In view of the overall growth in Indian economy, SMEs have entered the services sector as well. There are prospering aspects and have a blooming contribution of 45 percent to India’s manufacturing yield and 40 percent to the exports. Above these, SMEs assemble at least 8,000 quality items for the clients, in Indian and abroad.
Uplifting the MSMEs
Modular manufacturing is a potential way to uplift the MSMEs in India. Modular manufacturing has come up around the 2000s when it was just a mere thought. It may still be a little far from realization but once implemented it is no less blessing, particularly in the apparel industry. It improves the execution by many folds. It allows the top management to sit through the entire process of creation and upgrade the quality of output at the same time. Coordination and synchronization are important factors in a manufacturing process. A product simply makes progress through different stages and cycles of creation. If the objective is to extract maximum efficiency in a time effective frame, division of labour is undeniably the best way to go. All actions then take place in time, converging to the desired goal. Adoption of digitization can expand the worker’s efficiency. This will help them fulfill the bulk manufacturing process in time.
A number of programmes and MSME meets are organised to bring all stakeholders together on the same platform. The objective is to create linkages for encouraging growth and development in this sector. The MSMEs entrepreneurs often lack awareness about important things like Modular Manufacturing. The education about the same will not only ensure success but also will encourage more stakeholders to take up this process of manufacturing.