PM Modi launches schemes to strengthen MSME sector; check details here
During the event, the prime minister Narendra Modi launched 'Raising and Accelerating MSME Performance' (RAMP) scheme, 'Capacity Building of First-Time MSME Exporters' (CBFTE) scheme and new features of the 'Prime Minister's Employment Generation Programme' (PMEGP).
PremiumPrime Minister Narendra Modi on 30 June launched the ₹6,000 crore 'Raising and Accelerating MSME Performance' (RAMP) scheme in the 'Udyami Bharat' programme at Vigyan Bhawan in New Delhi.
India's micro, small and medium enterprises are a huge pillar of growth journey, as they together account for almost one-third of the country's economy.
"When we say MSME, it expands in technical language to Micro Small and Medium Enterprises. But these micro, small and medium enterprises are a huge pillar of India's growth journey. MSME sector accounts for almost one-third of India's economy," PM Modi said.
The prime minister further said that for orders up to ₹200 crores, no global tender will be undertaken.
"It is our government's decision not to do global tender in government procurement up to ₹200 crore. In this, your reservation is in a way. You have to show by doing something that the government has to ban the global tender in government procurement up to ₹500 crore, he said.
While addressing the programme, he also said that more than ₹500 crores have been digitally transferred to 18,000 MSMEs
“We've taken the resolution to make our unique local production in every district & part of our country, global... focus being given to develop MSME sector... More than ₹500 crores have been digitally transferred to 18,000 MSMEs; I congratulate the MSME sector," he said.
PM also said that effort is to create a local supply chain for Make in India, which can reduce India's dependence on foreign countries.
“We have resolved to make local products global. The effort is to create a local supply chain for Make in India, which can reduce India's dependence on foreign countries. Therefore, unprecedented emphasis is being given to expand the MSME sector," PM Modi said.
To strengthen the sector, the government has increased the Budget outlay by more than 650 percent in the last eight years, he further said.
PM urged all the MSMEs to register on the GeM portal.
“I urge all our MSMEs to register on GeM portal. The government will be able to buy your products," he said.
“If India earns ₹100 today, ₹30 comes because of our MSME sector... for us, MSME means - maximum support to Micro, Small & Medium Enterprises... "
The RAMP scheme has outlay of around ₹6,000 crore, PMO statement had said. Th scheme aims to scale up the implementation capacity and coverage of MSMEs in the states, with impact enhancement of existing MSME schemes. It will complement the Aatmanirbhar Bharat Abhiyan by fostering innovation, encouraging ideation, incubating new business and entrepreneurship by developing quality standards, improving practices and processes, enhancing market access, deploying technological tools and Industry 4.0 to make MSMEs competitive and self-reliant.
During the event, the prime minister also launched 'Capacity Building of First-Time MSME Exporters' (CBFTE) scheme and new features of the 'Prime Minister's Employment Generation Programme' (PMEGP).
The 'Capacity Building of First-Time MSME Exporters' (CBFTE) scheme, aims to encourage MSMEs to offer products and services of international standards for the global market. This will enhance the participation of Indian MSMEs in the global value chain and help them realise their export potential.
According to Prime Minister's Office (PMO), 'Udyami Bharat' is reflective of the continuous commitment of the government, right from day one, to work towards the empowerment of MSMEs. The government has launched several initiatives from time to time like MUDRA Yojana, Emergency Credit Line Guarantee Scheme, and Scheme of Fund for Regeneration of Traditional Industries (SFURTI) to provide necessary and timely support to the MSME sector, which has helped benefit crores of people across the country.
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