A revisit of National Science & Technology Policy for the development of small and medium enterprises in Sri Lanka

Small and Medium Enterprises (SMEs) played a crucial part in the Sri Lankan economy acknowledged as country's backbone for industrial growth. However, recent studies this sector exhibit that Lanka has not achieved desired level needed modern world compared with other countries, especially within region. This study examined reviewed extensive literature, gathering information from experts national economic development science technology innovation. That helped to identify major challenges on National Science & Technology Policy (NSTP) of SMEs, including various contributions economy, faced initiatives incentives offered by related authorities. There are several significant factors identified among challenges. They are; lower science-based technological innovation, limited skilled human resources less commitment, absence broad-based scientific knowledge, weak implementation policies, commercialisation research indigenous poor sustainability natural resources, lack expert high-cost import leverage much technology, informal use reluctance rural people integrate new hesitance pay levels facilities, high international competition, private-sector interference government involvement, weakness fund distribution. These lapses suggest existing policies insufficient or may be delivered effectively overcome these makes an effort irregularities NSTP positive step propose way forward formulating workable framework upgrade SMEs would highly effective.