Development of small scale industries in chittoor district and the role of Indian Bank: Lead Bank

Small Scale Industry today constitutes a very important segment of the Indian Economy. The development of this sector came about primarily due to the vision of Late Prime Minister Jawaharlal Nehru who sought to develop core industry and to have a supporting sector in the form of small sector and vibrant sector of the economy.1 The plan objective of economic growth with social justice was kept in view in the overall strategy of industrial development. All segments of the industry large, medium and small were assigned a mutually complementary role with a view to facilitate an integrated and harmonious growth of industrial sector as a whole. In the context of the major problems of poverty and unemployment faced by the Indian economy, the development of Small Scale Industry (SSI) was considered essential because of its being labour intensive and its significant contribution to the process of economic development by value addition, employment generation, equitable distribution of national income, regional dispersal of industries, mobilization of capital and entrepreneurial skills and foreign exchange earnings.