The Small and Medium Enterprises (SMEs) sector has emerged as a highly vibrant and dynamic sector of the Indian economy over the last five decades. With the Indian economy expected to emerge as one of the leading economies globally; SMEs will play a crucial role in providing large employment opportunities and assist in industrialization of rural and backward areas. The contribution of Small and Medium Enterprises (SMEs) alone has been greater than 7% to GDP and 45% to industrial production. Maharashtra boasts of a vibrant industrial sector with SMEs being a major contributor to it.
There is immense scope for work, which can be done through the Corporate Social Responsibility (CSR) funds of SMEs, but as they do not have a proper framework for utilizing the funds, SAHABHAG, the Government of Maharashtra’s initiative, can assist in having a group of SMEs come together and combine their efforts for sustainable CSR projects and activities.
SMEs play a vital role in generating employment, especially at the low-skill level and have the capacity of making the living conditions for their employees and families better. Hence, special focus should be laid on the CSR activities of the SMEs sector leading to social development.