3.16 CRORE MSMES REGISTERED IN INDIA BETWEEN JULY 2020 AND DEC 2023: GOVT

A total of 3,16,05,581 Micro Small and Medium Enterprises (MSMEs) were registered in India between July 1, 2020, and December 4, 2023, as reported by the Central government.

Minister of State for MSMEs Bhanu Pratap Singh Verma responded in writing when asked by a member about the total number of registered MSMEs in the country and the year-on-year increase and decrease in registration for the last five years.

Citing data uploaded on the Udyam Registration Portal, the Minister said all the 3,16,05,581 MSMEs included informal micro-enterprises. All the MSMEs were registered on the Udyam Assist Platform.

Verma also shared data that shows the registration of 28,47,544 MSMEs in 2020; 51,47,993 in 2021; 85,82,179 in 2022; and 1,50,27,865 in 2023.

In response to the query of Independent MP Kartikeya Sharma, the Minister further said the total number of women-owned MSMEs registered from July 1, 2020, to December 4, 2023, in the country was 1,17,36,406 (including informal microenterprises registered on Udyam Assist Platform).

Asked whether any steps have been taken by the government for resolution of the issue of pending payments faced by the MSME sector, Verma said the ministry has taken several steps in ensuring the growth of the MSME sector like “Udyam Registration” for MSMEs for Ease of Doing Business with effect from July 1, 2020, the inclusion of retail and wholesale traders as MSMEs with effect from July 2, 2021, for priority sector lending, and non-tax benefits extended for three years in case of an upward change in status of MSMEs with effect from October 18, 2022.

Launch of the Udyam Assist Platform on January 11, 2023, to bring Informal Micro Enterprises under the formal ambit for availing the benefits under Priority Sector Lending was among these steps, said the Minister.