MSME
MSME sector accounts for 30.1% of India’s GDP: Manjhi
Union MSME Minister Jitan Ram Manjhi MSME, which is the second highest contributor to the country's economy, accounts for 30.1% of India’s GDP.
Further MSME accounts for 35.4% of manufacturing and 45.73% of exports in the country.
Manjhi informed that Udyam portal, which was launched on July 1, 2020, and offers a free, paperless, and self-declared registration process for MSMEs, has more than 3.80 crore units in its database till date.
On the other hand, Udyam Assist Portal, which was launched on January 11, 2023, to support informal micro-enterprises and provide them access to formal benefits like Priority Sector Lending, has above 2.72 crore units in its database.
These 6.5 crore MSME units have together provided employment opportunities to 28 crore people till date.
The number of MSME units have increased fifteen times in the last five years, stated the Union MSME Minister.
Speaking about the PM Vishwakarma scheme, Manjhi stated that this scheme provides end-to-end support to artisans and craftspeople of 18 trades who work with their hands and tools.
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