Financing of Small and Medium Enterprises in India

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Small Scale Industry plays a vital role in the overall Economic Development of the Country. Today it accounts for 80% of Country's industrial employment, 40% of total manufactured goods, 35% of country's exports and produces nearly 6000 items. But the small & medium enterprises (SMEs) would continue to remain as the Powerful instrument of economic growth in the era of unprecedented technological revolution and globalisation. In India during the post reform era, while the large and medium scale grew at 6% p.a., the growth rate in the SSI sector was 18% p.a. in the Institutional Credit support plays a catalytic role in accelerating the pace of Economic development of a Country. Financial Corporation are an integral part of the overall mechanism of economic developemnt. Considering these facts; SFCs provide finance mainly to small and medium enterprises. So it is imperative to study the impact of financialj institution in relation to financing small and medium enterprises. It is a well-known fact that small and medium Sized enterprises (SMEs) are playing a significant role in the economy, particularly with regard to innovation and new job creation. About Author : Dr. Ashok Kumar Mohanty is the Reader in the P.G. Department of Commerce, Berhampur University in Orissa. He was the recipient of Gold Medal by securing First Class Position in M.Com. Examination, 1981 of the University. He is having more than twenty three years of Post Graduate and M.Phil teaching experience in Commerce, MFC, MBA and Future Studies. Dr. Mohanty did work on a U.G.c. sponsored research project titled "Management of Technology Transfer in Indian Passenger Car Industry". He has successfully guided four research scholars who were awarded with Ph.D. degree in the areas of rural banking, port infrastructure, investment banking and consumer ptrotection. Durga Madhab Mahapatra, has studied M.Phil in Commerce and M.Com in Berhampur University , Berhampur (Orissa) and studied Bachelor of Commerce (Honours in Accountancy) from P.N. College, Khurda, Utkal University, Bhubaneswar. He is also Life Members of Orissa Commerce Association. At present he is Serving as Sr. Lecturer in Management in Greater Noida Institute of Technology, Greater Noida (U.P.). Affiliated to U.P. Technical University, Lucknow. Contents : Abbreviations and SymbolsPrefaceIntroductionDFIs & Financing of Industries in IndiaProspects & Challenges of SMEs in IndiaDevelopment of SMEs in OrissaPerformance of State Financial CorporationAnalysisSummary of Findings and ConclusionBibliography