Micro, Small & Medium Enterprises has received great importance and focus of the Government of India because it is the need of the hour for growth of our economy.
Its importance further increases as it is the major source of employment generation.
Though the classification of MSME is defined on the basis of capital employed /as per different slabs of investment presently but looking to its potential in employment generation, Government is considering to include such parameters and to redefine the sector.
Recognizing the fact that MSMEs provide opportunities to entrepreneurs and helps in employment generation, the Government has been continuously announcing different incentives, subsidies etc. to this sector to enhance its contribution to GDP.
The role of Banking in economy is very significant as it caters to the needs of credit for all the sections of the society.
Without a sound and effective banking system, no country can have a healthy economy.
India besides being the largest democracy in the world is also growing at the pace to become economic giant in the world by 2025 and accordingly the role of our banking industry is going to be more and more important.
In view of this, government has initiated various steps to improve health of our banks.
Insurance refers to protection from financial loss.
It is a form of risk management to hedge against the risk of contingent or uncertain loss.
In India, there are 53 Insurance companies of which 24 are in life insurance business and 29 are in non life insurance business. 5 companies are exclusively dealing with health, personal accident and travel insurance segment.
Government of India has taken various steps to push penetration of insurance amongst masses in order to provide social security to the common man.
India’s insurance sector is biggest in the world and expects to increase at a Compound Annual Growth Rate of 12-15 percent in next 5 years.
Infrastructure refers to the fundamental facilities and systems serving a country including services and facilities necessary for an economy to function.
It is the backbone for growth and development of any country’s economy.
For Indian Economy also infrastructure is a key driver and because of its importance, it is one of the main focus areas for Indian Government as our aim is to create world class infrastructure in our country.
Infrastructure sector comprises of power, roads, bridges, water supply, electricity, railway, aviation, roads, dams and urban infrastructure development.
Government of India, looking to its importance has increased budget allocation for development of National/State Highways, setting of new airports, up gradation of existing airports, development of smart cities, electricity to all rural areas etc.
Information Technology benefits the business world by helping organizations to work more efficiently and maximize productivity.
Faster communication, electronic storage and protection of records are the major advantages of use of information Technology.
The evolution of IT sector in the last two decades or more has really transformed the working by and large of all the important segments of Indian economy such as Banking & Finance, Insurance, Telecommunication etc.
IT Industry sector of India plays a very predominant role in the world economy by providing different services such as software development, engineering designs, hardware and BPO services even to the most developed countries of the world.
Power is one of the most critical components of infrastructure crucial for economic growth and welfare of nation.
India’s power sector is one of the most diversified in the world.
Sources of power generation in India range from conventional sources such as coal, natural gas, hydro & nuclear power to non-conventional sources like wind, solar, agriculture and domestic waste.
The government of India’s focus on attaining “Power for all’ has enhanced contribution of this sector significantly in growth of our economy.
1. In India, Retail industry has emerged as one of the most dynamic and fast paced industry as it accounts for 10% of county’s GDP and 8% of employment.
2. India is world’s fifth largest global destination in retail space.
3. The Indian Retail Trading has received huge amount of Foreign Direct Investment (FDI).
4. With the rising need and demand of consumer goods in different sectors including consumer and home appliances, automobiles, many retail companies have invested heavily in the recent past in Indian Retail Space.
The Real Estate Sector in India has been a very attractive investment destination for years together.
Despite various challenges faced by the industry, it has sustained to survive to a large extent.
With the changes in the regulatory framework, India is going to become more attractive to both global and Indian investors in future and will bring in higher investments.
This sector slowly but surely will move into boom across India in view of Government focus on it particularly for development of affordable housing and smart cities.
Government of India has for promoting Start Up ventures has chalked out a definite plan to boost entrepreneurship and encourage the Start Ups for job creations.
An entity incorporated or registered in India not prior to 5 years with annual turnover not exceeding Rs. 25.00 crores in preceding previous financial year, working towards innovation, development, deployment or commercialization of new products, processes or services driven by technology or intellectual property is covered under the Start Up programme of Government of India.
Government has been ensuring that Bank finance to Start Ups is made available on easy terms and also certain tax benefits are provided to them so that they can overcome the different challenges being faced by the industries overall.