PM launches schemes to boost MSME sector, exports from India

New Delhi, June 30 (Dumanimail) Prime Minister Narendra Modi on Thursday launched the World Bank-assisted Rs 6,000 crore Raising and Accelerating MSME Performance’ (RAMP) scheme to boost the MSME sector. The Union Cabinet had cleared the RAMP scheme in March this year. The programme aims at improving access to market and credit, strengthening institutions and governance at the Centre and State, improving Centre-State linkages and partnerships, addressing issues of delayed payments and greening of MSMEs. Participating in the Udyami Bharat programme, the Prime Minister also launched the ‘Capacity Building of First-Time MSME Exporters’ (CBFTE) scheme which aims to encourage MSMEs to offer products and services of international standards for the global market. As per the government, the scheme would enhance the participation of Indian MSMEs in the global value chain and help them realise their export potential. Prime Minister also launched new features of the ‘Prime Minister’s Employment Generation Programme’ (PMEGP) to ramp up the MSME sector. He also digitally transferred assistance to beneficiaries of PMEGP for 2022-23. Mentioning about Mudra Yojana, the prime minister said that it has a huge role to play in making entrepreneurship easy for every Indian. “This scheme of bank loans without guarantee has created a large section of women entrepreneurs, Dalit, backward, tribal entrepreneurs in the country. So far, about Rs 19 lakh crore has been given as a loan under this scheme. Among the borrowers, there are about 7 crore such entrepreneurs, who have started an enterprise for the first time, who have become new entrepreneurs,” Modi said. Modi said that empowering MSMEs is essential for increasing India’s exports and Indian products reaching the global market. “Keeping in mind the limitless possibilities of the MSME sector the government has been consistently taking decisions and making policies,” Modi said. He stressed that MSMEs hold the key to the success of a self-reliant and strong India.

“MSMEs contribute nearly one-third to the Indian economy. In simple terms, if India earns Rs 100, then nearly Rs 30 comes due to our MSMEs,” Modi said while speaking at the ‘Udyami Bharat’ event. He noted that for the first time, the turnover of khadi and village industry has crossed Rs 1 lakh crore and this had been possible because micro and small entrepreneurs from villages have worked hard. “In the last 8 years, the sales of khadi have grown four-fold,” Modi said. He exhorted entrepreneurs to grow and expand their businesses adding that government is not only ready to help them but also bring necessary changes in the policy. “In order to empower MSMEs in the last eight years, our government has scaled up the budget for it by more than 650%. For us, MSME means maximum support to micro, small and medium enterprises,” he said. Modi said that more than 11 crore people are associated directly or indirectly with the MSME sector. The prime minister said that when one of the worst crises in the last 100 years hit the country, apart from shielding small scale industry the government strengthened them too. “The central government under emergency credit line guarantee scheme (ECLGS) extended help to the tune of Rs 3.50 lakh crore to the MSME sector. As per a report, almost 1.5 crore jobs could be saved by this,” Modi said. While encouraging MSMEs to explore new markets overseas, the prime minister underlined the role of Indian missions abroad. He stated that the government is evaluating the performance of Indian missions abroad on the basis of three parameters — trade, technology and tourism. Modi said that Indian missions abroad have to tell the government how much goods that country imported from India. He further said that the Indian missions have to also ensure that if there is some good technologies in a particular country then whether it was brought to India or not. The missions are also being required to ensure that tourists from those countries visit India.