Indigenous Business Practices: Micro and Small Enterprises in Siliguri

Abstract

The Micro, Small and Medium Enterprises (MSMEs) are aptly regarded as the backbone of the Indian economy. The small scale sector occupies a position of prominence in the Indian economy, contributing to more than fifty percent of the industrial production in terms of value accumulation. The sector accounts for 33.33% of the export revenue and employs the highest manpower next to agriculture. MSMEs are recognized as important constituent of the national economy.In North Bengal, Siliguri town traditionally possessed skilled labour efficient in making various handicraft items, like carpet, woolen garments, jackets, handloom products, cane and bamboo craft, ornaments, embroidery work, jute work, and pottery. These industries mainly operate in micro and small scale, and do good business during the tourist season. Their market is not confined to Siliguri alone but different states of India. However, these MSMEs suffer from a lack of adequate training and face problems in managing working capital. With proper training and adequate financial assistance from the local or state authority, they can be improved to compete with any other organized sector in the country. This paper is an attempt to explore the components of governance in micro and small scale industry and their management pattern in the area of Siliguri.