Latest news with #MinistryofMSME
Hans India
3 days ago
- Business
- Hans India
6.63 crore MSMEs listed on Udyam portals for Govt incentives: Minister
The total number of micro, small and medium enterprises (MSMEs) registered for various incentives on the Udyam Registration Portal and Udyam Assist Platform nationwide in the five-year period, from July 1, 2020 to July 31, 2025, has gone up to 6.63 crore, the Parliament was informed on Monday. The Ministry of MSME has taken various steps for the promotion and development of the MSME sector which include launching Udyam Registration for MSMEs which has resulted in the ease of doing business for these small units while the rolling out of the Udyam Assist Platform (UAP) has facilitated bringing Informal Micro Enterprises (IMEs) under the formal ambit for availing the benefit under priority sector lending (PSL). Inclusion of retail and wholesale traders as MSMEs has further helped to benefit small businesses, Minister of State for MSMEs Shobha Karandlaje told the Rajya Sabha in a written reply. The other measures include the government credit guarantee scheme for MSMEs has been revamped with the required infusion of funds of Rs 9,000 crore to facilitate additional credit of Rs 2 lakh crore for MSEs and expand employment opportunities. The Self-Reliant India (SRI) Fund has been set up to infuse Rs 50,000 crore as equity funding in those MSMEs which have the potential and viability to grow and become large units. The launch of the 'PM Vishwakarma' Scheme to provide end-to-end holistic benefits to the traditional artisans and craftspeople engaged in 18 trades has also been a major boost to the sector. Collateral-free loans up to a limit of Rs 10 crore with effect from April 1, 2025, to MSEs with guarantee coverage up to 90 per cent, for various categories of loans are provided through Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) under Credit Guarantee Scheme, the minister said. The Trade Receivables Discounting System (TReDS) has been set up to facilitate the financing of trade receivables of MSMEs from corporates and other buyers, including government departments and public sector undertakings (PSUs), through multiple financiers electronically to solve the problem of delayed payment to MSMEs, she said. Enhancement of maximum project cost from Rs 25 lakh to Rs 50 lakh for the manufacturing sector and from Rs 10 lakh to Rs 20 lakh for the service sector under the Prime Minister's Employment Generation programme (PMEGP) has enhanced the scope of the scheme, the minister added.
New Indian Express
3 days ago
- Business
- New Indian Express
MSMEs can play major role in Indo-Israel defence coop: Diplomat
BHUBANESWAR: Innovation attaché at Israeli Embassy in India, Maya Sherman, said the two nations are entering a new phase of collaboration, especially in technology transfer and joint development, and MSMEs in states like Odisha can play a pivotal role in this shared ecosystem. Speaking at the national-level defence seminar titled 'MSMEs for Nation's Defence: Procurement and Export Opportunities' here on Saturday, Sherman emphasised the growing Indo-Israel cooperation in defence technology, research and development, and manufacturing. The event organised by the Ministry of MSME and Odisha Assembly of Small and Medium Enterprises (OASME) brought together officials, defence experts and industry leaders to explore the Rs 2,000 crore annual business opportunity in India's defence and aerospace sector, particularly in the context of Odisha's strategic capabilities and industrial growth. Director of DRDO's Proof and Experimental Establishment (PXE) Subodha Kumar Nayak, chief manager (IMM project) at HAL-Koraput Subodha Kumar Sahoo and junior works manager at ordnance factory, Badmal Tapan Kumar Jena presented the current landscape of defence procurement, R&D and the strategic importance of MSME participation in indigenous defence production.
Time of India
04-07-2025
- Business
- Time of India
Need to enhance outreach of NSIC, NSSH schemes across Maharashtra: MSME Minister Manjhi
In an outreach to promote Micro, Small and Medium Enterprises (MSMEs) in Maharashtra, Jitan Ram Manjhi , Union Minister for MSME , visited the NSIC Office in Mumbai on Friday. The Minister participated in a plantation drive and presided over a function organised for distribution of Single Point Registration Scheme (SPRS) certificates under the National SC-ST Hub ( NSSH ) and NSIC the gathering, the Minister stated that the MSMEs are the vibrant and dynamic part of Indian economy and plays a crucial role in nation's growth, it highly contributes to the employment generation and emphasized the need to enhance the outreach of NSIC and NSSH schemes across Maharashtra, ensuring that more MSME units, especially from marginalized and underserved communities, benefit from Ministry of MSME schemes. He reaffirmed the government's commitment to building a stronger MSME ecosystem through better market access, financial support, and capacity development. The Minister motivated the entrepreneurs to contribute more in the GDP of the event marked a vibrant display of government commitment towards fostering MSME growth and inclusivity. It was attended by Mercy Epao, Joint Secretary - SME, Ministry of MSME; Subhransu S Acharya, Chairman-cum-Managing Director, NSIC; and other senior officials from the Ministry of MSME including MSME Development and Facilitation Office (MSME-DFO) and Khadi and Village Industries Commission (KVIC).During the programme the SPRS certificates to selected MSME units were distributed and an interactive session where the Minister engaged directly with entrepreneurs and assured them of continued government support.
Hans India
07-06-2025
- Business
- Hans India
India's first national paper expo debuts in Hyderabad
Hyderabad: PAPEXPO 2025, India's first national-level exhibition exclusively dedicated to the paper industry, was inaugurated today at HITEX Exhibition Centre, Hyderabad. The three-day event, organised by the Paper Foundation and supported by the Ministry of MSME, Government of India, brings together stakeholders across the paper value chain to promote innovation, sustainability, and industry growth. The event was inaugurated by industry stalwarts including Narendra Paruchuri, Managing Director, Pragathi Offset Printers; Soumyajit Mukherjee, CMO, Emami Paper Mills; Dr Ajay Satia, MD, Satia Industries; Rushabh Shah, MD, Three M Paper Boards; and Abiali Jani, Director, Jaini Sales. Distinguished attendees also included MK Goyal, General Secretary, IPPTA; Nataraj, Deputy Director, Indian Institute of Packaging (IIP); Nirmal Kuhad and Arvind Sharma, Directors of Papyrus Expo LLP; and B.R. Rao, President, Paper Foundation. Over 100 national and international exhibitors are showcasing the latest advancements in paper manufacturing, converting, printing, packaging, and recycling. More than 15,000 visitors are expected, including key decision-makers from across India and abroad. Speaking at the event, Soumyajit Mukherjee highlighted the dynamic potential of the paper industry, which engages nearly 2 million people and is valued at Rs80,000 crore. He noted the steady growth in writing and printing paper due to government education initiatives, and a resurgence in newspaper readership driven by declining digital trust. 'The industry is experiencing innovation across all verticals—from craft paper to recycled packaging boards,' he said. MK Goyal emphasised the importance of self-reliance within the sector, cautioning against over-dependence on imports and stressing the need to counter misinformation about paper usage. 'Despite being a sustainable industry, we've fallen victim to digital narratives that wrongly frame paper as environmentally harmful,' he said. Addressing the audience, Nirmal Kuhad reiterated PAPEXPO's role in debunking the deforestation myth. 'India's paper industry is among the most sustainable globally, with over 80% of production sourced from recycled materials like wastepaper, sugarcane bagasse, and agricultural residue,' he stated. The expo underscores the significance of paper in India's economic and ecological framework. Mr. Arvind Sharma called the sector a 'vital pillar' of India's economy, contributing extensively to employment and national tax revenue. PAPEXPO 2025 also aims to increase awareness about India's low per capita paper consumption—just 15–16 kg compared to the global average of 57 kg—and foster collaboration across industry segments. With the Indian paper market projected to reach $13.2 billion by 2033, and the packaging segment alone hitting $13.72 billion by 2025, the growth trajectory remains promising. Participants hail from major paper-producing states such as Maharashtra, Gujarat, Tamil Nadu, and West Bengal, alongside international exhibitors. The Paper Foundation also seeks policy support from the Telangana Government to bolster green innovation and sustainability initiatives in the sector.
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Business Standard
30-05-2025
- Business
- Business Standard
Government keen to increase credit availability to MSMEs, says official
He said that MSMEs provide employment to 27 crore people and that is why the ministry keeps them in mind while making policies The government wants to increase credit availability to micro, small and medium enterprises (MSMEs) and also improve them by enhancing technology, an official said on Friday. Addressing CII's Annual General Meeting, Rajneesh, Additional Secretary and Development Commissioner, Ministry of MSME said India is the fourth largest economy today and would be the third-largest soon. Rajneesh highlighted how MSMEs took a hit during COVID-19 but turned around very fast. He said that MSMEs provide employment to 27 crore people and that is why the ministry keeps them in mind while making policies. "We want to increase credit availability to MSMEs. This year Budget provided for providing credit cards to micro enterprises," he said adding MSME NPAs (bad loans) were less than 5 per cent in last five years as per RBI data. He also highlighted the role of technology to improve MSMEs, suggesting that through use of technology issues between environment concerns and growth aspirations can be resolved. Sunil Mathur, Managing Director and CEO of Siemens Ltd said, today average productivity level is 75 per cent in India whereas it is over 90 per cent in Europe and use of technology can help bridge this gap (productivity). He pointed that Indian MSMEs are dealing with challenges like access to market and finance. Shreekant Somany, CMD Somany Ceramics said digitisation helps MSMEs reduce cost and improve operational efficiency and suggested that MSMEs find new ways for rating them properly so that they get required financial facilities. "We must support MSME innovation hubs for improving quality of products to meet global standards," he said opining that regulatory compliance burden is heavy on MSMEs. Deepak Jain, Chairman Lumax Group said MSMEs represent the true entrepreneurship spirit of India. "We need to have very collaborative ecosystem... today ecosystems compete with each other, " he said citing example of China competing with other ecosystems globally. He stressed on the need to support MSMEs saying that supporting MSMEs should be a national competitive strategy. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
