In India, various small industry associations are currently striving to bring together the fragmented and geographically scattered micro, small and medium enterprises (MSMEs) into a common thematic fold. As inclusive development of MSMEs is crucial, some select small industry associations should be designated as Self Regulatory Organizations (SROs) to enable them to regulate the behavior and norms of the MSMEs. These SROs can operate as non-governmental organizations for drawing up and enforcing rules and standards for the proper conduct of MSMEs. Furthermore, such SROs can help the MSME sector to come together to set higher quality parameters, monitor industry performance, improve productivity, among others.
