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In the current context of growth being experienced by the Indian economy, small enterprises have gained prominence because of their significant contribution in terms of exports. The latest industrial policy of the government brings forth various challenges for the small enterprises for them to survive and grow in highly competitive domestic and international markets. This publication provides scope for meeting the challenges ahead. About the Author Dr. C. Sitaramayya is Director, Centre for Industrial Credit & Financial Services at the National Institute of Small Industry Extension Training, an organization under the Ministry of Small Scale Industries & Agro and Rural Industries, in Hyderabad.