Article Nisarg Essay

SME stands for scummy and Midsize enterprises. The definition defers from country to country. A business that maintains its revenue or employees below a certain standard is called an SME. The European definition for SMEs is The businesses which accommodate less than 250 employees and the annual revenue is less than 50 million euro (or annual balance sheet nitty-gritty less than 43 million euro) are called SMEs.India has defined SMEs under Micro, Small and Medium Enterprises Development (MSMED) Act, 2006. It says for a small sized enterprise the investment in plant and machinery should be between 25 hundred thousand and 5 crore and for a mean(a) sized enterprise it should be minimum 5 crore and should not pinch 10 crore. This definition is applic adequate to the enterprises which are in manufacturing sector. For the enterprises which render redevelopments, if the investment is between 10 hundred thousand to 2 crore they are called small sized and if the investment is between 2 cr ore to 5 crore they are called medium sized enterprises.The SME sector has been of prime importance for India as it involves less capital investment and is highly promote intensive. It boasts of universe second highest in providing employment and contributes to our goal of inclusive growth and equal distribution of resources. SMEs prompts clannish ownership, instils entrepreneur skills in the youth and establishes powerful market supply train. The report make by Ministry of Small and Midsize Enterprise says around 45% of the total output and 40% of the total export of the country comes from SMEs by employing 106.1 million people everyplace 26 million units in 2013. It contributes around 22% to the nations GDP.Now instead of discussing the past the immense potential ahead prompts me to throw some more lights on future of SMEs and how India ass fulfil its Make in India dream through it. Now in the military personnel of cut throat competition it isvery important that we usage all the technological resources we have. The next generation is to be driven by innovations and engine room. The initial development in our SME sector was the result of the government policy of promotion and protection of small business units. But now after 1991 reforms and in the era of globalisation the small business units are open to extensive competition from small and big giants all over the world.Therefore it has become essential that India shifts from engine room transfer to technology innovation. The recent research work published by BCG says if Indian SMEs adopt latest IT tools they could generate additional revenue of $56 billion and peck add 1.1 million jobs. One such tool is cloud computing which has changed the way IT solutions are being delivered. Cloud computing can provide cheaper solutions as it adopts pay per use policy. It reduces total operation damage and total cost of ownership by alleviating the risk for the cash strapped SMEs. The cloud facility enable s secure warehousing and transfer of data. As the maintenance and software up gradation is interpreted care by the service provider it saves the companys time and resources.To improve our supply chain further we can use computerized tracking and shipping devices along with electronic billing systems. There are plenty of supply chain related mobile apps like MCSA, Mobile TMS applications, Mobile Solutions by SAP and Oracle products. With barcode scanning, speech experience features, high quality digital cameras and other auto run instruments provide high class storage warehouse functioning. Let me give an example to exhibit that. John Deere utilize SmartOps software platform and helped equipment supplier amplification its on time shipments dealers from 63% to 92%, while reducing inventory by close to $1 billion. Here one more thing to note is that we are in 21st coke but our electric grid is a 20th century structure. It is highly inefficient and may dislocation any time.In 20 03 we observed east-coast wide black out in India. The first step to disband the issue can be the use of Smart Meters. It can relay a range of reading about electricity usage, can give utility and customers alike a real time effigy of how much power they are using at any point in time. The electricity can be used efficiently at time when the overall demand is low and the meter helps in doing that. By doing so we are smoothing the demand curves of power plants and utilizing the current power plants fully insteadof establishing the spic-and-span ones.Apart from that the SMEs can use technology to market their products on social media. There are some cost effective tools available like websites, blogs, emails etc. One of the most popular and heavily used such tool is Facebook. It provides facility of flexible budgeting and provision to target a highly specific listening as shown below.Along with all the benefits that we extract from our SMEs we must ensure that we dont harm our milieu and use green technology as much as we can. The e-waste produced by the enterprises have to be managed properly. CloudBlue, found in New Jersey, helps tech companies process their e-waste on the site as well. So in nutshell technology is the answer to the question posed by the harmful effects produced by the technology.Hence I conjecture India must keep including SMEs in its five year plans and should highly focus on the use of technology and innovation to develop this sector. We must use our executive wing to make time to time reforms. If taken as national goal I am confident our poor and middle class leave behind surely come out of mediocrity and contribute to the development of the nation and we will be able to drive this third global cycle of development along with China.Referencesen.wikipedia.org/wiki/Small_and_medium-sized_enterpriseshttp//www.investopedia.com/terms/s/smallandmidsizeenterprises.asp msme.gov.inwww.google.comwww.facebook.com