MSMEs playing a key role towards ‘Viksit Bharat’ goal: Union Minister

New Delhi, March 27 (IANS) The government is taking several steps to boost micro, small, and medium enterprises (MSMEs) and promote digitalisation at the grassroots level, Union Minister for MSMEs, Jitan Ram Manjhi, said on Thursday.

He emphasised that MSMEs are playing a crucial role towards Prime Minister Narendra Modi’s vision of ‘Viksit Bharat’.

“Innovative initiatives and supportive schemes are helping MSMEs grow, ensuring self-reliance and economic prosperity,” Manjhi said while releasing a report on the ‘Digital Saksham’ programme at the ‘MSME Leadership Summit 2025’ here, organised by the Confederation of Indian Industry (CII).

The minister highlighted government initiatives such as ASPIRE, SFURTI and CGTMSE, which provide financial and technical assistance to MSMEs.

Additionally, the PM Vishwakarma Yojana aims to uplift 30 lakh MSMEs, artisans and craftsmen over the next five years, integrating them into the modern economy.

“With unwavering government support, MSMEs are set to thrive, ensuring a stronger and more resilient India," Manjhi mentioned.

Minister of State for MSMEs, Shobha Karandlaje, underlined the government's commitment to improving the ease of doing business.

She said that initiatives like ‘Make in India’ and ‘Atmanirbhar Bharat’ are driving foreign investment and strengthening domestic manufacturing.

“MSMEs contribute nearly 30 per cent to India’s GDP and 45 per cent to exports, making them a vital part of the economy,” Karandlaje stated.

Meanwhile, the government is working towards formalising all MSMEs in the country, with a target of bringing 9 crore businesses under the formal economy by 2029.

Currently, over 6 crore MSMEs are registered under the Udyam and Udyam Assist (UA) portals, according to Mercy Epao, Joint Secretary, Ministry of MSMEs.

Speaking at an event in New Delhi on Wednesday, Epao emphasised that MSMEs play a crucial role in India's economy. “The sector contributes more than 30 per cent to the country's GDP, 36 per cent to manufacturing output, and over 45 per cent to exports,” she stated.

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