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Abstract. This paper addresses emerging issues concerning externally-oriented SMEs in India and the nature of important business risks faced by them during the period of global financial crisis. The unimpressive export performance of SMEs during the period of reforms is also a reflection of the limitations of the institutional support as also weak forms of production organization. The state needs to play a proactive role in contributing to enhancing SME competitiveness. Whereas financially well protected Indian SMEs are likely to be more competitive and efficient, a greater recognition of the potential of domestic market and provision of business-facilitating infrastructure holds the key for success of SMEs across(pp. 192–204)
JEL: L11, F10, F23, G32, O53

Keywords: SMEs, internationalization, competitiveness, business risks, Indi 

KESHAB DAS
Gujarat Institute of
Development Research-Gota, Ahmedabad 380 060, India
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JAYA PRAKASH PRADHAN
Sardar Patel Institute of Economic and
Social Research-Thaltej Tekra, Ahmedabad 380 054, India
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