Quick Overview

The emerging global agenda of SME development has to be understood against the historical factors, as also the more recent continental and country experiences. Globally, technology and trade have been undergoing rapid changes. The commodityproducingcountries are seriously challenged recently, because of falling commodity prices. The new era of ‘flexible production has entered into a new phase of economic concentration based on market opportunities. This phenomenon of ‘Hubanomics’ is likely to redefine the prospects of countries and regions. Naturally, at the end of employment, technology is likely to bring in new problems and challenges. On the other hand, in the labour market, a new wave of self-employment is getting accelerated; the moot question, however, is its sustainability. From the point of view of incomes and livelihoods, these changes are likely to bring in new challenges regarding sustainable development to India as well.