Aug 11: The Micro, Small and Medium Enterprises (MSMEs) sector plays an important role in the growth of the Indian economy. As per the latest information received from the Ministry of Statistics & Programme Implementation, the share of MSME Gross Value Added (GVA) in all of India’s Gross Domestic Product (GDP) during the year 2021-22 was 29.2% and the share of MSME manufacturing output in all India Manufacturing output during the year 2021-22 was 36.2%.
As per the information received from the Directorate General of Commercial Intelligence and Statistics (DGCIS), the share of export of MSME specified products in all India exports during the year 2022-23 was 43.6%.
The Udyam Registration Portal has 2,18,69,557 MSMEs registered since its inception (01.07.2020) to 08.08.2023 with employment of 12,84,04,488 (as of 08.08.2023). This includes 30,96,140 informal micro enterprises on the Udyam Assist Platform with employment of 38,57,385.
The Ministry of MSME is implementing MSME Champions Scheme, a Central Sector Scheme. MSME Champions Schemes comprising three components i.e., MSME-Sustainable (ZED), MSME-Competitive (Lean) & MSME-Innovative (for Incubation, IPR, Design and Digital MSME) for promoting competitiveness amongst Micro, Small and Medium Enterprises (MSMEs) by the way of wastage reduction through Lean Manufacturing, support for Design improvement, building awareness on Intellectual Property Rights, Zero Defect Zero Effect (ZED) Scheme to encourage and enable MSMEs for manufacturing of quality products, tools & to constantly upgrade their processes for achievement of high quality and high productivity with the least effect on the environment, and to promote & support ideas of MSMEs through Incubation across India.
The objective is to modernize MSMEs’ manufacturing processes, reduce wastages, encourage innovativeness, sharpen business competitiveness and facilitate their National and Global reach and excellence.
The Schemes are applicable for the benefit of registered manufacturing Micro, Small and Medium Enterprises (MSMEs) across India. The scheme assistance and subsidies are applicable as per the scheme guidelines. The guidelines and all other relevant information related to the scheme of MSME Innovative, MSME Sustainable (ZED) & MSME-Competitive (Lean) under MSME champions are available at http://www.innovative.msme.gov.in, http://www.zed.msme.gov.in & https://www.lean.msme.gov.in/ respectively and financial assistance provided all over the country are available at the official website of DC (MSME).Disclaimer: We donot claim that the images used as part of the news published are always owned by us. From time to time, we use images sourced as part of news or any related images or representations. Kindly take a look at our image usage policy on how we select the image that are used as part of the news.