Asian Journal of Economics, Business and Accounting

Micro, Small, and Medium Enterprises (MSMEs) play a pivotal role in realising the vision of an Atma Nirbhar Bharat (self-reliant India). This study critically examines the contribution of MSMEs in Jharkhand, a state rich in natural resources but often grappling with socio-economic issues, toward achieving self-reliance. The case study explores how MSMEs in the region leverage local resources, generate employment, and promote entrepreneurship while addressing issues such as inadequate infrastructure, lack of access to finance, and limited market reach. The study emphasises the need for collaborative efforts between the government, private sector, and local communities to overcome obstacles and harness the full potential of these enterprises. The study highlights successful MSME initiatives in Jharkhand that have boosted local industries like handicrafts, mining, agro-based enterprises, and steel production, showcasing their potential to drive economic growth and self-sufficiency. It also delves into the impact of government schemes such as the PMEGP (Prime Minister's Employment Generation Programme) and the MSME Samadhan initiative on empowering these enterprises. Furthermore, the paper emphasises the importance of digitalisation, skill development, and market linkages for strengthening MSMEs in Jharkhand. By analysing the region's unique issues and opportunities, this case study aims to provide policy recommendations to further enhance the role of MSMEs in achieving an Atma Nirbhar Bharat, with Jharkhand serving as a model for sustainable and inclusive development. In conclusion, MSMEs in Jharkhand hold immense potential to drive inclusive and sustainable growth, provided they receive adequate support from policy structures, financial institutions, and other stakeholders. The collective efforts of the government, private sector, and local communities can ensure that MSMEs in Jharkhand not only overcome existing issues but also emerge as a model for fostering Atma Nirbhar Bharat across the nation.