PM unveiled a set of initiatives to strengthen MSME domain

NEW DELHI: Prime Minister Narendra Modi on Thursday announced a number of efforts to improve and hasten the performance of the MSME sector. He said the MSME sector makes up close to one-third of India's economy, making, everyone beneficiary of the development.

The "Raising and Accelerating MSME Performance" (RAMP) plan, the "Capacity Building of First-Time MSME Exporters" (CBFTE) scheme, and new aspects of the "Prime Minister's Employment Generation Programme" (PMEGP) were all launched by PM Modi during the "Udyami Bharat" campaign.

Speaking to the gathering, Modi said that Aatmnirbhar Bharat will be greatly aided by the efforts of MSME India. He added that the actions announced today and other government activities are related to the quality and promotion of MSME, saying, "Our government is taking decisions and establishing new policies keeping in mind your talent and the tremendous potential of this sector."

The Prime Minster also distributed National MSME Awards in 2022, announced the results of  MSME Idea Hackathon in 2022, distributed assistance to PMEGP beneficiaries digitally for 2022–2023 and also issued Digital Equity Certificates to 75 MSMEs under Self Reliant India (SRI) Fund.

The government has boosted its budgetary allocation for the MSME sector by more than 650% during the past eight years, he said. The Prime Minister emphasized that "MSME means to us - Maximum Support to Micro Small and Medium Enterprises."

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