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The Future

The WTO (world trade organization) rules the present era and there are many changes as per global expectations. India is committed to the framework of WTO as it is one of the founder members of this organization. As a result Indian economy is getting integrated with global markets and the small businesses can explore their capabilities and develop new markets. They have to change themselves constantly to meet the global competition. With an innovative entrepreneurial spirit small industries have to adapt to the changing needs of the market driven economy. Government should act as a facilitator and not regulator to improve small scale sector. The government should come up with new strategies to promote partnership between small and large industries. The phrase “think globally and act locally” is apt for the small scale sector in our country.

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