Small Innovations: The Big Drivers of Indian Economic Development

Abstract

MSMEs can be considered to be contributing to the economic development of India. One of the most reviewed factors that contribute to the economic development of a country includes innovation. Therefore the current paper studied the contribution of MSMEs to the economic development of India from the point of view of the above mentioned parameter from 2004 to 2010. The results highlight the importance of MSMEs in bringing economic growth to India and motivate recommendations related to government intervention in supporting survival and growth of MSMEs in India.