Role of MSMEs in Poverty Alleviation and Rural Development in India

It is a reiterated fact that India is one of the fastest-growing countries in the world. The government has taken various initiatives to accelerate the growth of the country. Various Government and non-government institutions are working relentlessly to take the country to new heights of growth. The challenge here is to take care of every section of society and every sector of the economy for overall sustainable development. The problem of poverty still persists in rural areas. The rural development and poverty alleviation are the major challenges which hinder the growth of the country. The Micro, Small and Medium Enterprise Sector is one of the crucial sectors that could prove a game-changer in rural development and poverty alleviation. In this paper, an attempt has been made to study the situation of rural economy and poverty in the country. The researchers have tried to list out the possibilities that MSMEs could offer to alleviate poverty and contribute to sustainable rural development