The Prime Minister, Shri Narendra Modi today participated in the ‘Udyami Bharat’ program and announced major initiatives like ‘Enhancing and Accelerating MSME Performance’ (RAMP) scheme, ‘Capacity Building of MSME Exporters for the First Time’ (CBFTE) scheme. Prime Minister’s Employment Generation Program (PMEGP) to accelerate the MSME sector. He also transferred assistance digitally to the beneficiaries of PMEGP for 2022-23; MSME Idea Hackathon, 2022 Results Declared; Distributed National MSME Awards, 2022; and issued Digital Equity Certificate to 75 MSMEs in Atmanirbhar Bharat (SRI) Fund.
Addressing the gathering, the Prime Minister said that the efforts of MSME India will be the key driver of self-reliant India. He said that whatever heights India will achieve in the 21st century will depend on the success of the MSME sector. He stressed that it is important to strengthen India’s MSME sector to increase India’s exports and take India’s products to new markets. “Our government is taking decisions and formulating new policies keeping in mind your potential and the immense potential of this sector,” he said. He said that the initiatives launched today and other measures taken by the government are related to the quality and promotion of MSMEs.
The Prime Minister remarked that when we say MSMEs, it extends to Micro, Small and Medium Enterprises in technical parlance. But these micro, small and medium enterprises are a big pillar of India’s growth journey. The MSME sector accounts for about a third of India’s economy. Strengthening the MSME sector is strengthening the entire society, benefiting all development. Hence this sector is one of the top priorities of the government.
To strengthen the MSME sector, in the last eight years, the Prime Minister said, the government has increased the budget allocation for it by more than 650 per cent. “For us, MSME means – Maximum Support to Micro, Small and Medium Enterprises”, emphasised the Prime Minister.
Noting that more than 11 crore people are associated with this sector, the Prime Minister remarked that MSMEs are important for employment generation. During the pandemic, the government decided to save small enterprises and give them new strength. He said that the central government has ensured Rs 3.5 lakh crore for MSMEs under the Emergency Credit Line Guarantee Scheme. According to a report, this has saved about 1.5 crore jobs, the Prime Minister pointed out. He said that MSMEs are one of the major instruments of fulfilling the promises of ‘Amrit Kaal’ of India’s independence.
PM Modi recalled the times when earlier governments did not recognise the importance of this sector and encroached upon the sector by adopting policies that kept small enterprises small. To deal with this, the definition of MSME has been changed. The Prime Minister said that if any industry wants to grow and expand, then the government is not only supporting it but is also making necessary changes in the policies. The Prime Minister said that in GeM, MSMEs have got a very strong platform to provide goods and services to the government. He asked every MSME to get registered on GeM portal. Similarly, banning global tenders for projects below 200 crores will also help MSMEs.
The Prime Minister said that the government is taking steps to help MSMEs increase exports. Indian missions abroad have been asked to work on this. The Prime Minister said that the missions are being evaluated on three parameters i.e. trade, technology and tourism.
The Prime Minister said that the Prime Minister’s Employment Generation Program was revamped after 2014 as it was not able to achieve its targets in the period 2008-2012. More than 40 lakh jobs have been created under this program since 2014. During this period, margin money subsidy of Rs.14 thousand crore was provided to these enterprises. He said that the cost limit of the products covered under this scheme has also been increased.
Talking of inclusive growth, the Prime Minister said that all possible assistance is being provided to transgender entrepreneurs to achieve their goals.
The Prime Minister said that now for the first time the business of Khadi and Village Industries has crossed one lakh crore rupees. “This has been possible because of the hard work put in by our small entrepreneurs and our sisters in the villages. The sale of Khadi has increased 4 times in the last 8 years.
The Prime Minister said that the difficulty in getting loans without guarantee is a major hindrance for the weaker sections of the society in treading the path of entrepreneurship. After 2014, it was decided to widen the scope of entrepreneurship through Sabka Saath, Sabka Vikas, Sabka Vishwas and Sabka Prayas. Mudra scheme, he said.
This scheme of bank loan without guarantee has created a large section of women entrepreneurs, dalit, backward, tribal entrepreneurs in the country. Under this scheme, about Rs 19 lakh crore has been given as loan so far. He said that among the borrowers, there are about 7 crore such entrepreneurs who have started ventures for the first time, who have become new entrepreneurs. He also said that more than 18 percent of the people registered on the Udyam portal are women entrepreneurs. “This inclusion in entrepreneurship, this economic inclusion is social justice in the true sense”, he said.
The Prime Minister said, “Through this program today, I assure all my brothers and sisters associated with the MSME sector that the government is committed to formulating policies that meet your needs and is actively engaged with you.” Let’s go. Every achievement of an entrepreneurial India will lead us towards a self-reliant India. I believe in you and your ability.
‘Udyami Bharat’ reflects the continuous commitment of the Government from day one to work towards the empowerment of MSMEs. To provide necessary and timely assistance to the MSME sector from time to time, the Government has introduced MUDRA Scheme, Emergency Credit Line Guarantee Scheme, Scheme of Fund to uplift traditional Industries (SFURTI) and to provide necessary and timely assistance to the MSME sector. ) etc., which have helped crores of people.
The objective of the scheme ‘Enhancing and Accelerating MSME Performance’ (RAMP) with an outlay of about Rs.6000 crores is to enhance the implementation capacity and coverage of MSMEs in the states with increasing impact of the existing MSME schemes. Atmanirbhar Bharat by promoting innovation, stimulating thought, developing quality standards, improving practices and processes, market access, technological tools and promoting new business and entrepreneurship by introducing Industry 4.0 to make MSMEs competitive and self-reliant . will complement the campaign.
The objective of the ‘Capacity Building of MSME Exporters for the First Time’ (CBFTE) scheme is to encourage MSMEs to offer products and services of international standards in the global market. This will increase the participation of Indian MSMEs in the global value chain and help them realize their export potential.
The new features of the ‘Pradhan Mantri Employment Generation Program’ (PMEGP) include an increase in the maximum project cost by Rs 50 lakh (from Rs 25 lakh) for the manufacturing sector and Rs 20 lakh (from Rs 10 lakh) in the service sector. region. and to include applicants from aspirational districts and transgenders in special category applicants to receive higher subsidies. Also, assistance is being provided to the applicants/entrepreneurs through the appointment of banking, technical and marketing experts.
MSME Idea Hackathon, 2022 was aimed at promoting and supporting the untapped creativity of individuals, adoption of latest technologies and fostering innovation among MSMEs. The selected ideas will be provided financial assistance up to Rs. 15 lakhs per accepted view.
The National MSME Awards 2022 is a recognition of the contribution of MSMEs, States/UTs, Aspirational Districts and Banks for their outstanding performance in the growth and development of India’s dynamic MSME sector.