Small scale industry may sound small but they play a very significant role in the overall growth of an economy.The total number of people employed in this industry in india is approximately two crores,which is a huge number.So it can be said that Small scale industry provide Large-scale employment in our country.
WHAT IS A SMALL SCALE INDUSTRY??
>>An industrial undertaking in which the investment in fixed assets in plant and machinery whether held on ownership terms on lease or on hire purchase does not exceed Rs 10 million.
Advantages of small scale industry:-
>> This industry is especially specialized in the production of consumer commodities..
>>Small scale industry help the economy in promoting balanced development of industries across all the regions of the economy..
>>Small Scale Industries act as an essential medium for the efficient utilization of the skills as well as resources available locally...
>>This industry helps the various sections of the society to hone their skills required for entrepreneurship.
Government helps and encourages these industries by protecting them from direct competition from large scale industries.Very lenient tax structure is followed to flourish these industries and provision subsidies in form of capital is also there to help them.
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