Around 3.16 crore MSMEs registered on the UDYAM portal between 1st July 2020 and December 4th, 2023.
Key Highlights
- Since its inception, the UDYAM portal has recorded more than 3 crore registrations till 4th December, 2023.
- The data includes informal Micro Enterprises registered through the Udyam Assist Platform.
- The contribution of the MSME sector to the country’s GDP was 29 percent in FY 2021-22, down from its all-time high contribution to the country’s output.
As per the data provided by the Central government in the Rajya Sabha, a total of 3,16,05,581 (3.16 crore) MSMEs have registered on the UDYAM portal since its launch during the COVID-induced lockdown till 4th of December, 2023.
Responding to a question in the parliament, the Minister of State for MSMEs revealed that out of the total UDYAM registrations by MSMEs, around 1.5 crore were MSMEs owned by women.
The state-wise breakup of the data revealed that West Bengal topped the charts when it came to UDYAM registrations by women-owned MSMEs during the period, with around 18 lakh enterprises registered in the state.
The figure provided for UDYAM registrations includes informal micro enterprises registered through the Udyam Assist Platform launched on 11th January, 2023.
However, despite the government’s efforts to support the Micro, Small, and Medium-sized Enterprises (MSMEs), the sector still hasn’t touched its all-time high contribution to India’s GDP pre-pandemic.
The share of MSMEs in the Gross Value Addition in the economy was around 30.5% in 2018-19, which plummeted during the pandemic.
In FY 2021-22, the contribution of the MSME sector to the country’s GDP was 29.2 percent.
Steps taken by the government to support the MSME sector
The MoS for the MSME Ministry in a written reply to the Rajya Sabha has mentioned that the government has taken various initiatives to support the sector, some of which include:
1. Inclusion of traders (both retail and wholesale) as MSMEs for priority sector lending.
2. Udyam Assist Platform launched in January 2023 to bring micro-enterprises under the formal ambit.
3. Launch of Samadhaan portal for grievance redressal of Micro and Small Enterprises.
4. Setting up of MSEFCs in States and UTs to deal with delayed payments.
In addition, the government has also made it mandatory for companies with a turnover of more than INR 500 crore to onboard on the Trade Receivables Discounting System (TReDS) launched by the RBI for Invoice Discounting.
