Blitz Bureau
NEW DELHI: Indian micro, small, and medium enterprises (MSMEs) are providing 21 crore jobs while making a major contribution to the economy and exports across sectors, and no MSME will be left behind by the Government, Finance Minister Nirmala Sitharaman said.
Addressing the ‘National MSME Cluster Outreach Programme’, on November 9. Sitharaman said that under Prime Minister Narendra Modi, no state will be left behind and the Government would attend to every state.
“Also, no MSME will be left behind. I want to assure that all the MSMEs will be provided adequate support by the Government,” she told the gathering.
To further empower millions of MSMEs, the Small Industries Development Bank of India (SIDBI) will open 25 branches in the MSME clusters across the country this year, gradually moving into every such cluster.
“The cost of loans that small businesses will take from SIDBI directly will be far less. SIDBI knows small businesses and their requirements well so this will be an apt opportunity for the MSMEs to grow at scale,” Sitharaman said.
There are currently 5 crore MSMEs registered with the Government’s Udyam portal, providing crores of jobs.
The MSME sector has continued to play a pivotal role in driving economic growth, employment, and entrepreneurship across the nation. In comparison to a total of 1.06 crore MSME registrations in 2023, the number has now increased to more than 5.07 crore in 2024. Karnataka alone has 35 lakh MSMEs which provide about 1.65 crore jobs, according to Sitharaman.
