Indian MSMEs as Growth Engines to Economy

Ministry of Micro,Small & Medium Enterprises press release dated 28 June 2021

Minister For MSME and Road Transport and Highways Shri Nitin Gadkari emphasizes on all-round efforts for implementation of various initiatives undertaken as part of Aatmanirbhar Bharat

Minister for MSME and Road Transport and Highways Shri Nitin Gadkari has emphasized that all-round efforts are required for implementation of various initiatives undertaken as part of Aatmanirbhar Bharat. Addressing, a Virtual Conference on Indian MSMEs as Growth Engines to Economy on the occasion of International MSME Day the minister mentioned that in the journey of making Aaatmanirbhar Bharat, it is imperative that special focus is laid towards Agriculture, Food Processing industry, Leather and Tribal Industries. Further he also urged to make use of technology and mentioned that research, innovation and quality improvement can play a major role in industrial development.

On this special occasion, Minister for MSME, Shri Nitin Gadkari launched the integrated services of Udyam Registration Portal with Common Service Centre (CSC) Portal to increase penetration of benefits of various Government schemes amongst MSMEs in far-flung areas.

Minister of State for MSME and Animal Husbandry, Dairying & Fisheries, Shri Pratap Chandra Sarangi stated that Ministry is supporting MSMEs through various schemes and initiatives to enhance manufacturing competitiveness and unleash the true potential of MSMEs. He also emphasized on the importance of Import substitution and encouraged MEMEs to adopt digital tools and techniquesin unprecedented times, to re-build and craft new models that will ensure speedy revival of their businesses and become future ready.

During the Panel Discussions chaired by Secretary (MSME) and Additional Secretary & Development Commissioner (MSME), special emphasis was laid on Export promotion and making use of Free Trade Agreements (FTA) for achieving India’s goal of becoming a $5 trillion economy by 2025. In another Session on Enabling MSME E-commerce for Business Beyond Borders, it was highlighted that in recent years, the emergence of online markets through e-commerce has boosted and had a positive impact on MSMEs. By adopting e-commerce, MSMEs stand to gain significant advantages such as increased revenues and margins, improved market reach, access to new markets, savings in marketing spending, customer acquisition and enhanced customer experience. Ministry of MSME is committed towards providing requisite support to the MSMEs and upcoming entrepreneurs in strengthening Indian economy and working towards vision of Aatmanirbhar Bharat.

On the occasion of International MSME Day,the Virtual Conference on Indian MSMEs as Growth Engines to Economy was organised by the Ministry of MSME in association with India SME Forum, Electronics & Computer Software Export Promotion Council, Export Promotion Council for Handicrafts, the Gem & Jewelry export promotion council, Council for Leather Exports and All India Plastics Manufacturers’ Association on role of MSMEs in fueling the growth to achieve the PM’s vision of USD 5 Trillion Economy.

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MJPS

Ministry of Micro, Small and Medium Enterprises Extends Validity of Udyog Aadhaar Memorandum from 31st March, 2021 to 31st December, 2021

Ministry of MSME issued Press release on Thursday, 17th June 2021 extending Validity of Udyog Aadhaar Memorandum from 31st March, 2021 to 31st December, 2021

Posted Date:- Jun 17, 2021

Ministry of Micro, Small and Medium Enterprises has issued an amendment to the original notification No. S.O. 2119 (E) dated 26.06.2020 vide 2347(E) dated 16.06.2021, extending the validity of EM Part-II and UAMs from 31.03.2021 to 31.12.2021. This would facilitate the holders of EM Part-II and UAMs to avail benefits of the provisions under various existing schemes and incentives including Priority Sector Lending benefits of MSME.

Considering the hardships faced by MSMEs during the prevailing COVID-19 situation and the representations received from the various MSME associations, financial institutions and Government departments dealing with the interest of MSME Sector, the said amendment has been carried out.

It is expected that existing EM Part-II and UAM holders would be able to migrate to the new system of Udyam Registration, which was launched on 1^st July, 2020, and would avail the benefits of Government Schemes, thereby paving the way for strengthening MSMEs and leading to their faster recovery, boost to their economic activity and creation of jobs.

Interested enterprises can register on https://udyamregistration.gov.in free of cost and without any documents. Only PAN and Aadhaar are required for registration on the Udyam portal. So far, this portal has facilitated registration and classification of 33,16,210 enterprises as on 17.06.2021 (5.26.43 PM).

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MJPS / RR

Government Simplifies Registration Process for MSMEs -Only PAN, Aadhaar Required for MSME Registration

Minister for Road Transport & Highways and Micro, Small and Medium Enterprises, Shri Nitin Gadkari announced simplification of process for registration of Micro, Small and Medium Enterprises. Addressing a webinar of SMEStreet GameChangers Forum this evening, Shri Gadkari said that now only PAN and Aadhaar will be required for registration of MSMEs.

The Minister added that after getting registered, the MSME unit will be getting priority and finance. He said that there is a need to impart training to small units in fields of entrepreneurship and other related aspects. He assured full support of the MSME Ministry, and also expressed hope that banks and NBFCs will also provide full support to small businesses.

Emphasizing the importance of MSMEs, the Minister said that the MSMEs contribute significantly in the economic and social development of the country by fostering entrepreneurship and generating large employment opportunities. He said that with an objective of making India a global economic powerhouse, vision of MSME aims towards building a supporting ecosystem for MSMEs to enhance their contribution towards five trillion dollar economy. He said that in order to boost the economic activities of MSMEs, the Government has announced a special incentive package ‘Aatmanirbhar Bharat Abhiyan’ of 20 lakh crore rupees.

Full Event Link: https://www.youtube.com/watch?v=8xsVK9N6dv8