Ease of Doing Business for MSMEs: Launched on July 1, 2020, after the reclassification of MSMEs, the Udyam portal had already registered 84.94 lakh MSMEs at the time of filing this report.
Ease of Doing Business for MSMEs: Online portal for registration of micro, small and medium enterprises (MSMEs) is soon likely to have 1 crore registrations, said Mercy Epao, Joint Secretary – SME Division, MSME Ministry on Tuesday. “We are hoping to touch 1 crore very soon,” said Epao at an event organised by Ph.D. Chamber of Commerce and Industry on opportunities for MSMEs in indigenisation requirements of the Indian Air Force. Launched on July 1, 2020, after the reclassification of MSMEs, the Udyam portal had already registered 84.94 lakh MSMEs at the time of filing this report, according to the data from the portal. 80.95 lakh were micro units, 3.62 lakh were small enterprises, and only 36,364 were medium businesses out of the total registrations.
The 1-crore registration mark is expected to be achieved before the portal marks its two years of operations in July. In comparison, the erstwhile registration platform for MSMEs Udyog Aadhaar Memorandum managed to record 1.02 crore MSME registrations in its nearly five years of operation from September 2015 till June 2020.
The fresh MSMEs data on the Udyam portal is also helping the MSME Ministry to compare their growth patterns, turnover patterns, or their performance this year from last year, MSME Secretary BB Swain had said at an event organised by Assocham on MSMEs in March this year. “There is already a healthy data of MSMEs on the portal while over a particular period, it will grow to a very high level of let’s say 2-3 crore. This data is giving us exceptional indications towards the way MSME policies should actually be governed in India,” Swain added.
Importantly, Finance Minister Nirmala Sitharaman in this year’s budget had announced the interlinking of the Udyam portal with e-Shram, National Career Service (NCS), and Atmanirbhar Skilled Employee-Employer Mapping (ASEEM) portals to make access to government data on registration of MSMEs, unorganised workers, availability of skilled workforce, etc., more seamless.
Meanwhile, Epao in her address reiterated various schemes by the MSME Ministry for small business growth. For instance, the International Cooperation Scheme supports MSMEs in exhibiting at various trade fairs and exhibitions abroad. “If you want to go outside India to participate in major fairs then we have International Cooperation Scheme where more than 600 events are already approved,” said Epao.
The scheme offers financial support on a reimbursement basis to the state and central government organizations, industries and enterprises associations and registered societies or trusts associated with the promotion and development of the MSME sector. 590 MSMEs had benefitted through 46 events supported in FY19 followed by 586 MSMEs in 52 events in FY20 and 102 MSMEs in 15 events during the Covid year FY21, according to the data from MSME Ministry.
Attribution-Financial Express
