New Delhi: “More than 6 crore MSMEs are currently registered under Udyam and Udyam Assist (UA) portals. We are trying to formalize all the MSMEs in the country and hopefully by 2029 we will reach 9 crore. MSME sector contributes more than 30% of GDP, 36% of manufacturing output and also more than 45% of exports. The sector is the second largest employer in the country with more than 26 crore employment opportunities and generates more than 5 lakh crore GST contributions.” Said Mercy Epao, Joint Secretary- SME, Ministry of Micro, Small and Medium Enterprises, Government of India at the 11th MSME Excellence Awards and Conference organised by ASSOCHAM.
“The government is working towards its vision of sustainable development of globally competitive micro, small and medium enterprises as an engine of growth for Indian economy. The various schemes, programs and initiatives are designed to address the challenges faced by the MSME sector. The government is also focussed on uplifting women, SC/ST and persons with disabilities through special schemes and drives for them. Bank credit to MSMEs have been growing faster than credit dispersal to large enterprises. As per the economic survey 24-25, credit to MSMEs registered a year-on-year growth of 13%, whereas it stood at 6.1% for large enterprises.” she said.
Highlighting recent steps taken by the government, she said “The government has infused an additional 9000 crore for the revamped credit guarantee scheme for MSMEs to enable an additional credit of rupees 2 lakh crore. Guarantee fee has been reduced to as low as 0.37 per annum and guarantee ceiling under digital footprint model has been hiked to 10 Crore. Guarantee coverage for women owned enterprises has been enhanced from existing 85% to 90% vis-a-vis 75% coverage for others. Criteria for MSME has been revised to 2.5 crore in investment and turnover up to 10 crore.” Main speakers at the conferences includes Sushma Paul Berlia Chairperson, ASSOCHAM National council on Business Facilitation and Global Competitiveness & Chairman, Apeejay Stya and Svran Group Sudhir Panikassery Co-Chairperson, ASSOCHAM National Council on Business Facilitation & Global Competitiveness & Vice – Chairman, Aeries Technologies, Samriddhi Bhattacharyya Country Director and General Manager, Dell Small Business, DELL Technologies, S.S Murty General Manager-MSME, Central Bank of India and Shyam Mani Group Head – SME, CSB Bank Limited among others.
