MSME ministry News

According to the MSME Ministry's 2020-21 annual report, a total of 21,96,902 businesses registered for Entrepreneurs Memorandum (EM-II) between 2007 and 2015. As of December 31, 2021, the total number of registered users on the Udyam site was roughly 64.10 lakh. India's laundry market is predicted to expand to $15 billion by 2025, up from $11.3 billion in 2019.

Government expects job creation under Prime Minister's Employment Generation Programme (PMEGP) "to improve" in the coming days, notwithstanding the consistent decline witnessed in the number of jobs created under the scheme since 2012-13.

The government on Saturday approved signing of an agreement between India and Sweden to promote cooperation in the MSME sector.

National Small Industries Corporation (NSIC) has signed a pact with the government for promotion of innovation and entrepreneurship to give a fillip to the MSME sector in the country.

The government has proposed amendments to the MSME Act with the twin objectives of time-bound exit and revival of loss-making units to help them consolidate their businesses and re-deploy capital in other greenfield ventures.

The MSME Ministry is in talks with public sector banks to extend loans to micro, small and medium enterprises at base rate to help the sector access vast capital from financial institutions at lower costs, Union Minister Kalraj Mishra said today.

The Micro, Small & Medium Enterprises (MSME) Ministry today joined hands with consumer electronics major Samsung to set up technical schools across the country for imparting technical skills to youth.

As per data available, procurement of approximately Rs 14,442 crore, Rs 12,931 crore and Rs 3,799 crore was made from MSEs by Central Ministries/ Departments / PSUs in the year 2011-12, 2012-13 and 2013-14 respectively.

The government is mulling launching district-level incubation centres across the country to revitalise the micro, small and medium enterprises (MSME) sector and encourage entrepreneurship as per the Budgetary provision, a senior bureaucrat said here Saturday.