Case Study Of SME

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Lean Six Sigma Approach to Improve Overall Equipment Effectiveness Performance: A Case Study in the Indian Small Manufacturing Firm Introduction: SMEs are the backbone of the Indian manufacturing sector and became engine of economic growth in India. It is estimated that SMEs account for almost 40% of value addition in the manufacturing sector and 90% of industrial units in India. Small scale industry has been one of the major flat of India 's economic development strategy since Independence. From very beginning India accorded high priority to small and medium enterprises (SMEs) and followed support policies to make these enterprises vibrant, visible and over time, these had become major contributors to the growth of GDP rate. At present, SME occupies a position of strategic importance in the Indian economic value due to its significant contribution in terms of employments, exports and outputs. SMEs industry accounts for 50% of total manufacturing exports and 40% of gross industrial value addition. More than 3.2 million units were spread all over the country producing about 8000 items, from very basic products to highly sophisticated products. SMEs are the biggest employment-providing area next to agriculture area, providing employment to 29.4 million people. The growth of…show more content…
SMEs are capable of creating jobs with less amount of capital and in locations which makes SMEs attractive to policy makers. They remain as a heterogeneous group, in which different organizational structures ranking from proprietorship to corporate, engages in factories to service organizations activities and in some countries they differ from industry to industry. The SMEs development agencies such as Small Business Administration (SBA) of the US, SIDO (Small Industries Development Organization) in India and Small Business Service (SBS) of United Kingdom are the intermediaries set up by the Government (Chandra,
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