Small Scale Industries (SSI) – Development Method
The small-scale industries play a necessary role in our country which is filled with a large workforce and aspiring entrepreneurs. Most of the developed successful businesses today are the expansion of their small businesses once. Millions of individuals are part of these industries. The Government encourages Small scale industries by providing funds and subsidies to these businesses. They can be set up both in urban and rural areas due to which they can compete even with large-scale industries as well as multinational companies.
These enterprises have agile developmental methods as they are easily adaptable and flexible to the changes and use all the natural resources to ensure minimum wastage. They try to produce better quality products at low prices. These industries encourage women to participate in the work and also increase the efficiency of the employees as well as support the growth of the large scales industries massively by providing them with all the components required by them. SSI contributes a total of 40% to the gross industrial output which has tremendously increased the total production value in our economy. The Small Scale Industries enable people to live with dignity as it eliminates poverty by providing many opportunities to work and get a proper income for their living which abolishes the inequalities in society and flourishes its welfare.
SSI Full Form | Small Scale Industries (SSI)
SSI means Small Scale Industries. These are also known as micro-level industries. They are involved in the manufacturing, production, and rendering of the services on a small scale. SSI falls under the guidelines specified by the Government of India and works with small enterprises where the number of workers, employees as well as machinery used by them is less in number. A lot of labor and workforce is required to work for the production of these services which creates huge employment.