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Don't dismiss India's SMEs as 'dwarves'

They can create jobs for the country's young, working-age individuals. With investments in human and physical infrastructure, these businesses can power the economy.

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SMEs in India generate more than 30 per cent of manufacturing value-added, and are expanding their presence across the wider economy.

INDIAN government economists appear to be ignoring the important lessons of China and Taiwan, which have achieved spectacular economic growth through the massive contribution of their small and medium-sized enterprises (SMEs).

The economists have criticised the contribution of India's...