MSME Ministry briefs Vice-President on sector's role in Indian economy

MSME Minister Jitan Ram Manjhi briefed Vice-President CP Radhakrishnan on the sector's growth, formalisation via the Udyam portal, and key schemes like PM Vishwakarma. The VP lauded the ministry's efforts and growing credit flow to entrepreneurs.

Union Minister for Micro, Small, and Medium Enterprises (MSME), Jitan Ram Manjhi, and Minister of State, Sushri Shobha Karandlaje, along with senior officials of the Ministry, called on the Vice-President of India, CP Radhakrishnan, at Parliament House on Thursday.

MSME Ministry Briefs Vice-President on Sector's Growth

During the meeting, the Vice-President was briefed on the emergence of the Micro, Small and Medium Enterprises (MSME) sector as a highly vibrant and dynamic pillar of the Indian economy. He was apprised of the sector's vital role in economic growth, employment generation, entrepreneurship development, people's empowerment, and environmental sustainability.

Focus on Formalisation and Ease of Doing Business

The Vice-President was also briefed on the Ministry's thrust on formalisation of enterprises through the Udyam Registration Portal to strengthen identity and improve ease of doing business.

Pioneering Initiatives and Key Schemes Highlighted

The Ministry outlined its pioneering initiatives supporting the growth of the MSME sector, including Khadi, Village and Coir industries, with a focus on credit support, technological assistance, infrastructure development, skill development and training, enhanced competitiveness, and market assistance. He was informed about key schemes such as PM Vishwakarma, the Credit Guarantee Scheme, Prime Minister's Employment Generation Programme (PMEGP), the Micro and Small Enterprises Cluster Development Programme (MSE-CDP), the Public Procurement Policy for MSMEs, and initiatives promoting enterprises owned by women and SC/ST entrepreneurs. The Ministry's plans, aligned with Viksit Bharat's vision, were also highlighted.

Vice-President Applauds Ministry's Efforts

The Vice-President appreciated the Ministry's efforts to bolster the MSME sector, expressed happiness over increased budgetary support and growing credit flow to entrepreneurs, and commended the success of PM Vishwakarma and other schemes in delivering benefits nationwide. Noting that MSMEs are the second-largest employer in the country, the Vice President emphasised that the sector, with its rich legacy and vast untapped potential, should be continuously revitalised through targeted interventions such as infrastructure development, skill enhancement, and the establishment of training institutes in economically backward regions. (ANI)

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