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The Potential Role of Innovative Indian SMEs in Sustainable Growth

Author

Listed:
  • Ionica Oncioiu

    (Titu Maiorescu University)

  • Florentina Raluca Bîlcan

    (Valahia University)

  • Anca Gabriela Petrescu

    (Valahia University)

Abstract

India has experienced a robust economic growth in the recent years, but with a trajectory which offers both positive and negative lessons on the business innovation faced by many countries in Asia and elsewhere in the developing world. This study sought to test the relationship between innovation, financial performance and economic growth. Data were analyzed using descriptive and inferential statistics on the factors that contribute to assuring the innovation of the processes involved in the financial performance and economic development in the rubber and plastic product sector in India. The results revealed that there is a positive relationship between innovation and economic growth, as well as between innovation and the financial performance of the company. Finally, the conclusion presents implications, limitations and directions for future research regarding the importance of innovation to the firm’s performance. A clear lesson from this study is that the future must include promoting Innovative Indian SMEs; in other words, business competitiveness depends on the creativity and innovativeness of its entrepreneurship.

Suggested Citation

  • Ionica Oncioiu & Florentina Raluca Bîlcan & Anca Gabriela Petrescu, 2017. "The Potential Role of Innovative Indian SMEs in Sustainable Growth," EuroEconomica, Danubius University of Galati, issue 1(36), pages 196-206, May.
    • Handle: RePEc:dug:journl:y:2017:i:1:p:196-206
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    References listed on IDEAS

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    Cited by:

    1. Getachew Ayalu & Aradom Gebrekidan Abbay & Hossein Azadi, 2023. "The role of micro- and small-scale enterprises in enhancing sustainable community livelihood: Tigray, Ethiopia," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 25(8), pages 7561-7584, August.

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