Prime Minister, Shri Narendra Modi today participated in the ‘Udyami Bharat’ program and launched key initiatives such as the ‘Raising and Accelerating MSME Performance’ (RAMP) program, the ‘Capacity Building of First-Time MSME’ program Exporters’ (CBFTE) and new features of the ‘Prime Minister’s Job Creation Program’ (PMEGP) to accelerate the MSME sector. It also digitally shifted aid to GPMP recipients for 2022-23; announced results of the MSME Idea Hackathon, 2022; distributed the National MSME Awards, 2022; and issued digital equity certificates to 75 MSMEs in the Self Reliant India (SRI) fund. Union Ministers Shri Narayan Rane and Shri Bhanu Pratap Singh Varma, MSME actors from across the country and diplomats from various countries were among those present at the occasion.
Addressing the gathering, the Prime Minister said MSME India’s efforts will be a key driver for Aatmnirbhar Bharat. He said whatever heights India in the 21st century will reach will depend on the success of the MSME sector. He stressed the importance of India’s strong MSME sector to increase Indian exports and for Indian products to reach new markets. “Our government makes decisions and develops new policies keeping in mind your capacity and the immense potential of this sector,” he added. 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 pointed out that when we say MSMEs, it extends in technical language to micro-small and medium-sized enterprises. But these micro, small and medium enterprises are a huge pillar of India’s growth journey. The MSME sector accounts for almost a third of India’s economy. Strengthening the MSME sector means strengthening society as a whole, enabling everyone to reap the benefits of development. This is why this sector is one of the highest priorities of the government, he said.
To strengthen the MSME sector, over the past eight years, the Prime Minister said, the government has increased the budget allocation for this purpose by more than 650%. “For us, MSME means – Maximum support for micro, small and medium-sized enterprises”, underlined the Prime Minister.
Noting that more than 11 million people are linked to the sector, the Prime Minister remarked that MSMEs are essential for job creation. During the pandemic, the government decided to rescue small businesses and give them new strength. Under the emergency line of credit guarantee scheme, the central government has assured Rs 3.5 lakh crore to MSMEs, he said. According to a report, this saved about 1.5 crore jobs, the Prime Minister informed. He said MSMEs are a major vehicle for realizing the ‘Amrit Kaal’ promises of India’s independence.
Shri Modi recalled a time when previous governments failed to recognize the importance of the sector and hindered it by adopting policies that kept small business small. To solve this problem, the definition of MSMEs has been modified. The Prime Minister said that if an industry wants to grow and develop, the government not only supports it but also makes the necessary policy changes. The Prime Minister highlighted that at GeM, MSMEs have a very strong platform to deliver goods and services to government. He asked every MSME to register on the GeM portal. Similarly, banning global tenders for projects worth less than 200 crore will also help MSMEs.
The Prime Minister said the government was taking steps to help MSMEs increase their exports. The Indian mission abroad has been tasked with working on this. The prime minister said missions are assessed on three parameters, namely trade, technology and tourism.
The Prime Minister said that Pradhanmantri Rozgar Srijan Karykram was reshuffled after 2014 as he was unable to achieve his goals in the period 2008-2012. Since 2014, more than 40 million jobs have been created under this program. During this period, Rs 14,000 crore of margin money subsidy was given to these companies. The cost limit for products under this scheme has also been increased, he said.
Speaking of inclusive development, the Prime Minister said that transgender entrepreneurs are getting all the help they need to achieve their goals.
The Prime Minister noted that now, for the first time, the turnover of Khadi and Village Industries has crossed Rs 1 lakh crore. “This was possible because our small entrepreneurs in the villages and our sisters worked very hard. Khadi’s sales have increased 4 times over the past 8 years.”
The Prime Minister said that the difficulty in obtaining unsecured loans was a major obstacle for vulnerable sections of society to pursue the path of entrepreneurship. After 2014, it was decided to expand the scope of entrepreneurship through Sabka Sath, Sabka Vikas, Sabka Vishwas and Sabka Prayas. Mudra Yojana, he said, has a huge role to play in facilitating entrepreneurship for every Indian. This unsecured bank lending scheme has created a large section of women entrepreneurs, dalits, arrears, tribal entrepreneurs in the country. So far, about Rs 19 lakh crore has been given as a loan under this scheme. Among the borrowers, there are about 7 million such entrepreneurs, who have started a business for the first time, who have become new entrepreneurs, he added. He also noted that on Udyam Portal as well, more than 18% of registrants are female entrepreneurs. “This inclusiveness in entrepreneurship, this economic inclusion, is social justice in the literal sense,” he said.
The Prime Minister concluded by saying “Today, through this programme, I assure all my brothers and sisters associated with the MSME sector that the government is committed to developing policies that meet your needs and to walking proactively with you. Every achievement of a business India will lead us to a self-reliant India, I believe in you and your abilities.
(With GDP entries)