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The MSMEs have been accepted as a vital engine of economic growth and for promoting equitable development across the world. Economists opine that micro, small and medium enterprises can play the most important part in the success of the “Make in India” plan. But the irony is that despite the MSMEs having such vital significance, they are facing a plethora of constraints like the lack of adequate and timely bank finance and skilled labour, difficulties in marketing their products and the non-availability of suitable technology.

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