MSMEs

March 26, 2025 4:39 PM

Challenges faced by MSMEs must be addressed in clusters, not in isolation: NITI Aayog CEO

BVR Subrahmanyam, CEO of NITI Aayog, on Wednesday said that MSMEs cannot exist in isolation and their challenges must be tackled in clusters and groups. Speaking at an event organized by the Confederation of Indian Industry (CII) in New Delhi, Subrahmanyam said that today’s MSMEs are going to be the large enterprises of tomorrow. He said that the government “must handhold them and transform them from micro to small, small to medium, and medium to large enterprises.” The NITI Aayog CEO u...

February 5, 2025 10:01 AM

Budget 2025-26: MSMEs to receive Rs.1.5 lakh crore in additional credit, new initiatives to benefit 5 lakh entrepreneurs

The Union Budget 2025-26 has introduced a set of comprehensive measures to boost the Micro, Small, and Medium Enterprises (MSME) sector, recognising its critical role in India’s economic growth as per a press release issued by the Ministry of Micro, Small & Medium Enterprises. With 5.93 crore registered MSMEs employing over 25 crore people, the sector contributes significantly to manufacturing, exports, and job creation. In 2023-24 alone, MSME-related products accounted for 45.73% of India...

December 30, 2024 3:03 PM

Budget 2025-26: Assocham seeks greater ease of doing business, enhanced credit flow for MSMEs

To boost micro, small, and medium enterprises (MSMEs) and improve ease of doing business, Assocham has proposed the creation of integrated infrastructure townships and universities dedicated to skill development and entrepreneurship. The aim is to enhance growth and support within the sector, the apex trade body said on Monday. During a pre-budget meeting with Finance Minister Nirmala Sitharaman, Assocham recommended several measures to encourage investment. These include expanding the scope of...

November 21, 2024 3:17 PM

Indian MSMEs create 10 crore jobs in 15 months, drive economic growth

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 w...

September 11, 2024 5:17 PM

Piyush Goyal launches Trade Connect e-platform to support exporters

In a bid to support Indian exporters, MSMEs, and entrepreneurs, Commerce and Industry Minister Piyush Goyal on Wednesday launched the Trade Connect e-platform. The platform is designed to facilitate connections between Indian businesses and key stakeholders, including Indian Missions abroad, Export Promotion Councils, and partner government agencies. It will offer information on global trade events, benefits from India's Free Trade Agreements (FTAs), and other relevant international trade data....

September 16, 2024 6:43 PM

DoT launches initiative to help MSMEs, startups embrace new technologies

The Department of Telecommunications (DoT) has launched a comprehensive survey to identify and address the challenges faced by Micro, Small, and Medium Enterprises (MSMEs) in adapting to new technologies. The survey aims to lay the groundwork for a robust ecosystem that leverage the potential of artificial intelligence (AI), the Internet of Things (IoT), cloud computing, and the integration of 5G and 6G networks. The 60-day survey will cover five sectors each in North and South India. It is de...