What is the role of small business in the Indian economy?

Answer 1

role of small business in rural India are:

1. introduction to industrialisation

2. employment generation

3. removal of poverty

4. use of local resources

5.better living standard of people.

Answer 2

During the period of independence, Agriculture is the back born of the Indian Economy. But, now a days its contribution is relatively low compare between the Industrial Sectors.Most of the Small scale Industrial sectors are fully or partially depend on the agricultural sector. So Agriculture sectors are developed and automatically develop the Industrial sectors and it will be promote the economic development of a country.

Answer 3

The private sector has played a vital role in the development of the Indian economy. An example is foreign direct investment. Previously, the Indian economy was managed by government enterprises.

Answer 4

Marketing's Role In Indian Economy"Marketing's role is to ensure the continuance in growth of economies and the individual's standard of living"

( M.J.Baker, 1985).

According to the statement given by M.J.Baker, Marketing plays a vital role in the economic growth of the country periodically and sustain individuals standard of living.

Marketing Definition "Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating, offering, and exchanging products of value with others" (Philip Kotler). Basically human need is state of deprivation or neediness where the people require food, shelter, clothing, belonging, esteem to live up their life. These needs are not created by the society or either the marketers, it is the existing nature of human Biology and human condition. Even though the human needs of the people are few, their wants are many, this is because they are continuously shaped or reshaped by the social forces and their environment which include institutions, families, and business corporations. "Wants of the specific product" is the demand of the people and their willingness to buy them. Companies should not only measure how many people want to buy their product but also the people who are willing and able to buy it. This willingness should be created by the company. Here comes the Marketing principle how well the company sell their product and satisfy the needs of the customer (Narayana Rao K.V.S.S)

Market- "Consists of potential customers sharing a particular need or want who might be willing and able to engage in exchange to satisfy that need or want"(Philip Kotler).

Marketer- "A Marketer is some one seeking one or more customers who might engage in an exchange of values". Marketers are the one who influence demands on the product by making the product attractive, appropriate, affordable, and easily available to target consumers. People living in different societies or...