Micro, Small and Medium Enterprises in Goa: Growth Exploration
Sukhaji G. Naik
Dr. Sukhaji G. Naik, Associate Professor, Vice Principal and HOD, Department of Commerce Education Computer and Management, Vidya Prabodhini College of  Parvari Goa, India.
Manuscript received on 27 August 2019 | Revised Manuscript received on 03 September 2019 | Manuscript Published on 14 September 2019 | PP: 332-337 | Volume-8 Issue-5S3, July 2019 | Retrieval Number: E10710785S319/19©BEIESP | DOI: 10.35940/ijeat.E1071.0785S319
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)

Abstract: According to Micro, Small and medium enterprises Act 2006, the MSME are classified into two categories viz, Manufacturing Enterprises which are engaged in the manufacturing of production of goods or employing plant and machinery in the process of value addition to the final product having a distinct name or character or use. Service Enterprises: The enterprises engaged in providing or rendering of services are defined in terms of investment in equipment. Now, MSMEs is defined on the basis of ‘Annual Turnover’ instead of investment in plant and machinery /Equipment . Incase of manufacturing sector, the enterprises whose annual turnover is less than Rs. 5 Crores are considered as ‘Micro Enterprises’ The enterprises whose annual turnover is between Rs. 5 crores to Rs. 75 crores are considered as ‘Small Enterprises’ and the enterprises whose annual turnover is between Rs. 75 crores to Rs. 250 crores are considered as Medium Enterprises. A similar criteria are applied to define service sector enterprises as Micro, Small and Medium enterprises. At present approximately 36.1 million units of micro, small and medium enterprises are engaged in production in India. This sector provides employment to around 120 million people , These units represent around more than 45% of India’s total export . The contribution of this sector to the country’s Gross Domestic Product is about 8%. A study carried out by the Confederation of Indian Industries (CII) on the Indian MSMEs reveals that the MSME’s contribution to the India’s GDP will be around 50% by 2024 . Many units of MSME’s are located in rural areas which are checking the migration from rural areas to urban areas. Goa was liberated from the Portuguese regime yoke on 19th December 1961 , and remained union territory along with Daman and Diu for several years; Goa was elevated to the status of 25th state in the Indian Union on 30th May 1987. It has a geographical area of 3702 Sq. Kms. and a population of 14.58 lakhs (2011 Census). The state is divided into two districts (North and South Goa) and Twelve talukas. This state has the highest per capita income in the country and the second lowest with respect to poverty ratio. Tourism, agriculture, industry, mining, construction, banking, trade and fishery are the main stay of the Goan economy. Goa with its unique natural beauty has emerged as one of the best and the most attractive tourist destinations in the world. With a spread network of banking and financial institutions, the state is in the ideal position to attract investment. Goa today has over 8000 small scale industries employing over 60000 employees. The state has developed / established 20 industrial estates; some of them are among the best in the country. The industrial activities encompass about 50 sub sectors which include tourism, pharmaceuticals, electrical and automobile accessories etc. In spite of this, we are yet to achieve lot in the industrialization process. Goa has done fairly well in last two decades on the industrial front in spite of various handicaps. The explanation for this does not lie in any planned development strategy that the state adopted- indeed there was a pointed lack of any such gearing up for accelerated industrial development and overall economic growth.
Keywords: MSME, Small Enterprises, CII, Service Enterprise.
Scope of the Article: Small Batch Manufacturing