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Topic: changes in industrial policy and their effects on industrial growth.
5. The Micro, Small and Medium Enterprises (MSME) in India play an important role in India’s economic and social arena with significant contribution to output, employment and exports. Examine the impact of Free Trade Agreements (FTA) on India’s MSME sector. (250 words)
Difficulty level: Moderate
Why the question: The question is part of the static syllabus of General studies paper – 3 and mentioned as part of Mission-2022 Secure timetable.
Key Demand of the question: To write about contribution of MSME in India’s growth and how FTA’s affect MSMEs.
Directive word:
Examine – When asked to ‘Examine’, we must investigate the topic (content words) in detail, inspect it, investigate it and establish the key facts and issues related to the topic in question. While doing so we should explain why these facts and issues are important and their implications.
Structure of the answer:
Introduction:
Begin by giving factual status of proportion of MSME vis-à-vis the population dependent on it also adding the dimension of the demographic demand of India.
Body:
Elaborate upon the importance of MSMEs in socio-economic development of the country. GDP growth, Job creation, exports and entrepreneurship etc.
Mention about the challenges created by FTA’s with respect to MSMEs such as – Intellectual Property Rights (IPRs), Import Duties, Non-Tariff Measures, Investment, Rules of Origin (ROO), skilling, linkage with the e commerce industries, upgrading of marketing skills and meeting new market needs etc.
Conclusion:
Conclude by writing a way forward and summarising the overall impact of MSMEs in socio-economic development of India.
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