A study on awareness of MSME definition and government schemes among college students

Micro, Small, and Medium Enterprises (MSMEs) play an important role in strengthening the Indian economy by encouraging entrepreneurship, generating employment, and supporting balanced economic growth. The Government of India has introduced various policies and schemes to develop and encourage this sector over time. However, the result of these initiatives largely depends on the awareness level of the people for whom they are meant. College students are a crucial group in this context, as they are the future entrepreneurs and professionals. The present study tries to inspect the level of awareness among college students regarding the definition and classification of MSMEs as prescribed under the MSME Development Act, 2006, and its 2020 amendments. It also examines students’ awareness of various government schemes introduced for MSME development. This study is based on primary data collected from 181 students across different academic disciplines. The findings reveal that although students have limited basic knowledge of MSMEs but their knowledge of government schemes and institutional support is comparatively high. The study shows the need for better academic exposure, awareness programmes, and practical orientation to strengthen students’ understanding of MSME-related policies.