Launching several key initiatives for micro, small and medium enterprises (MSMEs) at the ‘Udyami Bharat‘ programme, the Prime Minister emphasised that it is important for India’s MSME sector to be strong for increasing India’s exports and for India’s products to reach new markets.
“Our government is taking decisions and making new policies keeping in mind your ability and the immense potential of this sector”, he added. He said that the initiatives launched and other measures undertaken by the government are linked with the quality and promotion of MSMEs.
Modi launched key initiatives like ‘Raising and Accelerating MSME Performance’ (RAMP) scheme, ‘Capacity Building of First-Time MSME Exporters’ (CBFTE) scheme and new features of the ‘Prime Minister’s Employment Generation Programme’ (PMEGP) to ramp up the MSME sector.
He also digitally transferred assistance to beneficiaries of PMEGP for 2022-23, announced results of the MSME Idea Hackathon, 2022, distributed National MSME Awards, 2022, and issued Digital Equity Certificates to 75 MSMEs in the Self Reliant India (SRI) Fund.
The Prime Minister said that the government is taking measures to help MSME in increasing exports. The Indian Mission abroad has been told to work on this. Addressing the event, Modi said that the Missions are being evaluated on three parameters i.e. trade, technology and tourism.
The Prime Minister observed that difficulty in getting loans without guarantees was a major obstacle for the vulnerable sections of the society to pursue the path of entrepreneurship. After 2014, it was decided to enlarge the ambit of entrepreneurship through Sabka Sath, Sabka Vikas, Sabka Vishwas and Sabka Prayas.
Mudra Yojana, he said, has a huge role to play in making entrepreneurship easy for every Indian. “This scheme of bank loans without guarantee has created a large section of women entrepreneurs, Dalit, backward, 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 crore such entrepreneurs, who have started an enterprise for the first time, who have become new entrepreneurs,” Modi said.
Out of the 36 crore loans disbursed to beneficiaries under the MUDRA Yojana, 70 per cent loans have been given to women entrepreneurs, shared the Prime Minister.
He also noted that on Udyam Portal too, more than 18 per cent of those registered are women entrepreneurs. “This inclusiveness in entrepreneurship, this economic inclusion is social justice in the true sense”, Modi said. The Prime Minister said that Pradhanmantri Rozgar Srijan Karykram was revamped after 2014, as it was not able to achieve its goals in the period between 2008-2012. Since 2014, more than 40 lakh jobs have been created under this programme.
During this period Rs 14,000 crore worth of margin money subsidy was provided to these enterprises. Cost limit for products falling in this scheme has also been increased, he informed. Talking about inclusive development, the Prime Minister said that trans-gender entrepreneurs are being provided with all help to realize 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 has been possible because our small entrepreneurs in the villages and our sisters have worked very hard. Khadi sales have increased 4 times in the last 8 years”.
The Prime Minister assured those associated with the MSME sector that the government is committed to making policies that meet their needs and walk proactively with them. “Every accomplishment of an entrepreneurial India will lead us towards a self-reliant India. I believe in you and in your ability,” he said.
The ‘Raising and Accelerating MSME Performance’ (RAMP) scheme with an outlay of around Rs 6,000 crore, aims to scale up the implementation capacity and coverage of MSMEs in the States, with impact enhancement of existing MSME schemes.
It will complement the Aatmanirbhar Bharat Abhiyan by fostering innovation, encouraging ideation, incubating new business and entrepreneurship by developing quality standards, improving practices and processes, enhancing market access, deploying technological tools and Industry 4.0 to make MSMEs competitive and self-reliant.
‘Capacity Building of First-Time MSME Exporters’ scheme aims to encourage MSMEs to offer products and services of international standards for the global market. This will enhance the participation of Indian MSMEs in the global value chain and help them realise their export potential.
New features of the ‘Prime Minister’s Employment Generation Programme’ (PMEGP) include an increase in the maximum project cost to Rs 50 lakh (from Rs 25 lakh) for the manufacturing sector and Rs 20 lakh (from Rs 10 lakh) in the service sector and inclusion of applicants from Aspirational districts & Transgenders in the Special Category applicants for availing higher subsidies.