MSME

December 12, 2024 10:20 PM

Over 2.2 crore women-owned MSMEs registered in last 4 years

Over the past four years, India has witnessed a remarkable surge in women-led enterprises, with more than 2.2 crore women-owned Micro, Small, and Medium Enterprises (MSMEs) registering under government initiatives. This growth stems from the revised MSME definition introduced on July 1, 2020. By November 30, 2024, a total of 2,20,73,675 women-owned MSMEs had been registered on the Udyam Registration Portal (URP) and Udyam Assist Platform (UAP). In regions like Rajasthan’s Tonk and Sawai Madho...

November 29, 2024 9:09 PM

Manufacturing and services to dominate workforce and GDP by 2047: report

The ASSOCHAM-Egrow report has projected that India’s economic transformation by 2047 will be driven by the manufacturing and services sectors, which are expected to employ 67% of the workforce and contribute 75% of the country’s GDP. This shift underscores India's continued transition toward a service- and manufacturing-led economy, moving away from its traditional reliance on agriculture. According to the report, India’s nominal GDP is forecasted to surge from $3.5 trillion in 2023 to $2...

November 10, 2024 1:41 PM

Scheduled commercial banks, NBFCs to provide additional MSME credit of Rs 1.54 lakh cr: FM

The government has set a target for all scheduled commercial banks and Non-Banking Financial Companies (NBFCs) to provide additional MSME credit of Rs 1.54 lakh crore in the current financial year (FY25). Finance Minister Nirmala Sitharaman outlined the target for total credit growth of Rs 5.75 lakh crore, Rs 6.21 lakh crore, and Rs 7 lakh crore to MSMEs in the financial years 2024-25, 2025-26, and 2026-27, respectively. At the ‘National MSME Cluster Outreach’ program in Bengaluru, organiz...