New Delhi, 4 July (IANS). Union MSME Minister Jitan Ram Manjhi said on Friday that the MSME sector is contributing 30.1 percent to the country’s GDP.
In addition, the Union Minister said that the MSME sector has 35.4 percent stake in manufacturing and 45.73 percent in the country’s exports.
Addressing a press conference in Mumbai, Union MSME Minister Manjhi said that the MSME sector is playing an important role in providing employment to entrepreneurs and making them entrepreneurs.
The Union Minister said that the enterprise portal launched on July 1, 2020 provides a free, paperless and self-declared registration process for MSME. More than 3.80 crore units are registered in its database today.
On the other hand, more than 2.72 crore units are registered in the database of the enterprise assistance portal launched on January 11, 2023 to support informal micro enterprises and provide them access to formal benefits such as priority sector loans. These 6.5 crore MSME units together have provided employment opportunities to 28 crore people till date.
The Union Minister said that the Prime Minister Employment Generation Program (PMEGP) is a major loan-link subsidy program aimed at creating self-employment opportunities through the establishment of micro enterprises in the non-agricultural sector. The program assisted 80.33 lakh people to get employment. 80 percent of these were in rural areas.
According to the Union Minister, organizations under the MSME Ministry such as KVIC, Care Board, National Small Industries Corporation Limited, Small Industries and Rural Products are doing good work to spread schemes related to small industries and rural products and contribute to India’s GDP and exports.
During his visit to Mumbai, the Union Minister also visited the Electrical Measurement Equipment Institute (IDEMI) and Khadi and Village Industries Commission (KVIC) offices.
-IANS
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