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| Micro, Small, Medium-Sized Enterprise (MSME) Sectors in Nagaland: A Way of Development
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Lamminlen Apollo Khongsai and Dr. S. Suchitra Varma
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Abstract:
Nagaland, a state in Northeast India, has the potential to become a hub for MSMEs enterprises. The state's unique blend of traditional craftsmanship and cutting-edge innovation is the result of its diversified population and abundance of natural resources. Nagaland has a rich and diverse MSME sector, including agriculture, horticulture, handloom and textiles, and tourism, to name a few examples. The government has established multiple agencies to provide training and technical support to MSME business owners. There is great potential for small and medium-sized businesses (SMEs) in Nagaland, but they also face certain challenges. Nagaland's SMEs face challenges that prevent them from playing a larger role in the state's economic expansion. The growth of Nagaland's MSMEs is contingent on factors including access to funding, physical facilities, and skilled laborers. Public and private entities should work together to enhance the current business environment to encourage innovation and entrepreneurship. The methodology undertaken is descriptive analysis. The objectives are first to discuss the economic growth under MSME in Nagaland, the second to know the role of entrepreneurship in developing the economy of the state.
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