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Aug, 27 2010

SME report on top 100 cities released

A report titled 'Top 100 cities for small business in India', was jointly released by consultancy firm Ernst & Young (E&Y) and Franchise India, an integrated franchise and retail solutions company, on

A report titled 'Top 100 cities for small business in India', was released by Franchise India, an integrated franchise and retail solutions company, on August 26, 2010, in Mumbai. The report has rated Ahmedabad as the most preferred city and Gujarat, Maharashtra and Andhra Pradesh as the most preferred states for SMEs (Small and Medium Enterprises). These states provide the best conditions for robust growth of the SMEs in India.

The report highlights the essential pre-requisites of starting a new business that includes demographic infrastructure, retail activity, regulatory and entrepreneurial ability and paying taxes. SMEs are the backbone of developing nations and contribute about eight to nine per cent to the GDP of India by providing employment to more than four crore people. The SMEs comprise 45 per cent of the industrial output in the country and contribute to about 40 per cent to the Indian export.

The report talks about the facilities like incentives to promote quality competitiveness, research and development and technology upgradation provided by different states.

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