India’s micro, small, and medium enterprises (MSMEs) have added nearly 10 crore new positions over the past 15 months, according to official data from the Udyam portal.
The figures reveal the number of registered MSMEs has gone up to 5.49 crore from 2.33 crore in August last year while the number of jobs reported by these enterprises has shot up to 23.14 crore from 13.15 crore during this period.
The total employment also included 2.84 crore jobs by 2.38 crore informal micro units registered with the government through Udyam certification and 5.23 crore women employment. Out of the total registered units, 5.41 crore are micro enterprises while small enterprises are 7.27 lakh and medium enterprises are only 68,682.
The Indian government has made significant strides to support MSMEs, particularly through its 2024-25 Union Budget. Allocating a substantial Rs 22,137.95 crore to the MSME Ministry—an increase of 41.6% from the previous fiscal year.
Key measures include a new scheme to provide term loans for manufacturing MSMEs without collateral or third-party guarantees, and an increase in the Mudra loan limit to Rs 20 lakh for entrepreneurs who have repaid their earlier loans under the “Tarun” category. Additionally, the government has lowered the turnover threshold for buyers from Rs 500 crore to Rs 250 crore to help expand market opportunities.
The Finance Minister further highlighted plans to facilitate the purchase of machinery and equipment by MSMEs through a new scheme offering term loans without the need for collateral or guarantees, supported by a Rs 100 crore guarantee fund.
