MSME Ministry has set a target to enhance its contribution to GDP up to 50% by 2025 as India becomes a $5 trillion economy

Union Minister Dr Jitendra Singh says, new business enterprises are heavily dependent on scientific technology in contemporary India Delivers the keynote address at the 7th India International MSME Trade and Investments Expo Summits 2021 in New Delhi today MSME Ministry has set a target to enhance its contribution to GDP up to 50% by 2025Continue reading “MSME Ministry has set a target to enhance its contribution to GDP up to 50% by 2025 as India becomes a $5 trillion economy”

Status of MSMEs and SMEs

The COVID-19 epidemic has temporarily affected various sectors including Micro, Small and Medium Enterprises in the country. Economic activity contracted due to the strict lockdown measures imposed by the Government. This contraction has also had impact on the MSME sector.         The Ministry of MSME implements various schemes and programmes for growth and development ofContinue reading “Status of MSMEs and SMEs”

Financial assistance towards MSMEs

Government has taken a number initiatives for providing financial assistance to the Micro, Small and Medium Enterprises (MSMEs) to cope with the financial impact of the COVID-19 pandemic which inter-alia include measures such as : Rs. 20,000 crore Subordinate Debt for MSMEs, Rs. 4.5 lakh crore Collateral free Automatic Loans under Emergency Credit Line   GuaranteeContinue reading “Financial assistance towards MSMEs”

Norms fixed for implementation of Ease of Doing Business (EoDB) in country to enable state-specific reforms

Norms fixed for implementation of Ease of Doing Business (EoDB) in country to enable state-specific reforms 20 States allowed additional borrowing of Rs 39,521 crore during 2020-21 for implementation of EoDB reform The Union Government has fixed norms for implementation of Ease of Doing Business (EoDB) in the country to enable state-specific reforms. This wasContinue reading “Norms fixed for implementation of Ease of Doing Business (EoDB) in country to enable state-specific reforms”

In 2020-21, India exported fruits and vegetables valued at Rs 11,019 crore compared to Rs 10,114 crore worth of exports in 2019-20

In a big boost to AgriBusiness, First consignment of vegetables exported to UAE from Uttarakhand In 2020-21, India exported fruits and vegetables valued at Rs 11,019 crore compared to Rs 10,114 crore worth of exports in 2019-20 In a major boost to agricultural produce exports from Uttarakhand, first consignment of vegetables including curry leaf, okra,Continue reading “In 2020-21, India exported fruits and vegetables valued at Rs 11,019 crore compared to Rs 10,114 crore worth of exports in 2019-20”

Brics MSME Rountable Emphasis Upon Formulation of a Future Roadmap to Accelerate Growth of MSME Sector

Secretary, MSME Shri B.B. Swain has emphasized upon formulation of a future roadmap to accelerate growth of MSME sector post Covid-19 and a guide towards creating business environment for the benefit of MSMEs. Addressing the BRICS Nation’s vision of Post-Covid Roadmap for ‘the growth accelerating sector’, he called forevaluating the extent of damage of theContinue reading “Brics MSME Rountable Emphasis Upon Formulation of a Future Roadmap to Accelerate Growth of MSME Sector”

Agri exports registered an increase of 17.37% in 2020-21

India’s agriculture exports during 2020-21 have registered an increase of 17.37% as compared to exports during 2019-20. Commodity-wise details of India’s agriculture exports, during 2019-20 and 2020-21, are at Annexure-I. of exports of agricultural products is an ongoing process. To promote agricultural exports, the Government has introduced a comprehensive Agriculture Export Policy (AEP) to harnessContinue reading “Agri exports registered an increase of 17.37% in 2020-21”

E-commerce portal of MSME to enable all businesses to enhance global reach

National Small Industries Corporation, a PSU under the Ministry of MSME  has a B2B MSME Global Mart Portal and efforts have been made to further strengthen activities under it. The salient features of the portal include online registration, web store management, multiple payment options, customer support through Call Centre and enhanced security features.  Khadi andContinue reading “E-commerce portal of MSME to enable all businesses to enhance global reach”

Stand Up India Scheme extended up to the year 2025

Key Highlights: Stand Up India Scheme was launched by the Prime Minister on 05th April, 2016 and extended up to the year 2025. Stand Up India Scheme facilitates loans to Scheduled Caste, Scheduled Tribe and women borrowers.  A total of 1,16,266 loans amounting to Rs. 26204.49 crore extended under the Scheme since inception. Margin Money requirementsContinue reading “Stand Up India Scheme extended up to the year 2025”