Despite their significant contribution to India’s economy, over 80% vendors rely on informal lines of credit to sustain their businesses. Ranging from Kirana stores to street shops, India’s MSME ecosystem is as diverse as the challenges it involves. Owing to the largely unorganised nature of this segment, its impact has been restricted. Empowering these enterprises is crucial to building India’s financial strength. Plenty of credit programmes and skill development initiatives have been rolled out to help formalise this sector. Insufficient documentation and a lack of information continue to be key obstacles to availing these benefits. But with awareness, and some assistance in attaining documentation and licences, our cohorts have revealed a progressive shift in knowledge and attitudes. We dedicate this International MSMEs Day to these spirited self-employed citizens as they make their way towards a more independent, stable future. -- #internationalmsmeday #worldmsmeday #msme #haqdarshak #socialimpact #opennetworks #development #tech #data #governmentschemes #empowerment #lastmiledelivery #partnership #csr #ngo #philanthropy #msme #yojanacard
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Micro, Small, and Medium Enterprises (MSMEs) are the lifeblood of India's economy, contributing significantly to our nation's prosperity. Almost all governments, both centre and state, give utmost importance to supporting the growth of the MSME sector. Recent major policy reforms have put the sector in peril but the resilience of the sector has stood out. Currently, the Ministry of MSME implements 32 centrally sponsored schemes under various flagship initiatives including Digital India, Skill India, Gramodaya Yojana and more! Efforts are also underway to improve ease of doing business for the industry. If you're a small business owner or work at one, are you leveraging these invaluable resources? Comment below and share which schemes have been most beneficial for your enterprise. #BenefitNews #SamajhdarKeLiyeSamacharKaafiHai #newsthatmatters #indianewstoday #GovernmentSchemes #PolicyIndia #MSME #MSMEIndia
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Senior Associate at RNA, Technology and IP Attorneys [ IPR | Media & Entertainment | Virtual Assets ]
Celebrating MSME - World Micro, Small, and Medium Enterprises (MSME) Day - 27th June 2024 Today, we acknowledge the contribution made by the backbone of the economy and recognize their efforts in the following: - Creating jobs - Driving economic - Growth - Empowering women, youth and marginalized communities MSME as a sector contributes around 90% of businesses, 60 to 70% of employment, and 50% of GDP worldwide as per the United Nations. To share about India, the government has launched various schemes like Udyam Registration Portal, PM Vishwakarma scheme, PMEGP, SFURTI, the Public Procurement Policy etc. to support MSMEs, to foster them and make them an integral part of the economy. Despite the pandemic, MSME sector managed to contribute around 29% of the economy and as per recent data there are over 4.63 Crore Enterprises which are registered on the Udyam Portal. Link: https://lnkd.in/gFmJ6XvQ Link: https://lnkd.in/gQ6ZrSuk #MSME #India #MSMEDay #Startup #economy #empowerment #growth #jobcreation #UN #UnitedNation #SDG
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Celebrating - World micro, small & medium enterprises (MSME) Day 27th June 2024. Today, we acknowledge the contribution made by the backbone of the economy & recognize their efforts in the following:- Creating jobs Driving economic Empowering women, youth, & also marginalized communities. Did you know MSME as a sector contributes around 90% of business, 60-70% of employment & 50% of GDP worldwide as per the United Nations. To share about India, the government has launched various schemes like Udyam Registration Portal, PM Vishwakarma schemes, PMEGP, SFURTI, the public procurement policy etc. to support MSME's to foster them and make them an integral part of the economy. Despite the pandemic, MSME sector managed to contribute around 29% of the economy and as per recent data there are over 4.63 crore enterprises which are registered on Udyam portal. #MSME #INDIA #MSMEDAY #Startup #Economy #Empowerment #Growth #Jobcreation #UN #UnitedNation #Leadership
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Could #EconomicFreedom be the key to redefining #development by #2047? Hear CPPR's Senior Research Associate Anu Anna Jo's perspective on what a truly developed India might look like. To know more about our work on promoting ease of doing business, check out the projects listed below: Breaking Business Barriers https://lnkd.in/gy645xdn Easing regulatory barriers in Kerala shops & commercial establishments https://lnkd.in/g32tuZ6G Study on regulatory barriers in Khadi sector https://lnkd.in/gvJ8A6xc Decriminalisation of doing business in Kerala https://lnkd.in/gYd_yFkm Easing the Regulatory Ecosystem of School Education in India https://lnkd.in/gjKSFUCs #ViksitBharat #IndependenceDay #India #kerala #EconomicFreedom #liberty #CPPRIndia #BreakingBusinessBarriers #EoDB #EaseOfDoingBusiness #India2047 #thinktank #freedom
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India's #MSME sector is on a remarkable trajectory, buoyed by government initiatives like #PMMudraYojana and #Udyam. These initiatives are not just supporting micro, small, and medium enterprises, but also igniting a spark of economic growth that promises a bright future. Invest in this thriving sector. #InternationalMSMEsDay #MSMEsLeadingTheWay #MSMEChampions #WomenInMSME #InvestInIndia #InvestIndia Ministry of Micro, Small and Medium Enterprises, Government of India Department for Promotion of Industry and Internal Trade Ministry of Commerce and Industry, Government of India NITI Aayog
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Navigating the MSME Terrain: Insights from a Consultants Perspective in India: In the dynamic tapestry of Indias economy, Micro, Small, and Medium Enterprises (MSMEs) emerge as the vibrant threads weaving together growth, innovation, and inclusivity. These enterprises not only contribute substantially to the nations GDP but also serve as the crucibles of entrepreneurship, especially in rural and semi-urban landscapes. As a consultant entrenched within the realm of Indian MSMEs, its both riveting and enlightening to explore their challenges, opportunities, a... ... ... http://dlvr.it/T6FXjf #TaxLaws #Articles #TaxTMI
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With the establishment of Campus Industrial Parks in higher educational institutions, the Government of #Kerala aims to tackle the issue of land scarcity and build an ecosystem for entrepreneurship and industrial growth in the region. Click to know more: https://lnkd.in/dU-BhW3 #InvestIndia #InvestInIndia #IILB #InvestSmart #IndustrialLand #InvestInKerala Ministry of Commerce and Industry, Government of India Department for Promotion of Industry and Internal Trade NITI Aayog
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Paving the way for #UdyamiBharat with GeM! With more than 6.3 Crore MSMEs, India has emerged as a beacon for fostering local entrepreneurship and innovation on a global stage. GeM, India's largest public procurement portal, is further strengthening the growth of this ecosystem by removing intermediaries and providing them equitable access to a competitive marketplace for business-to-government. By granting MSEs certain exemptions and purchase preferences, GeM is boosting their business thereby fostering job creation and #inclusive economic growth! This #WorldMSMEDay, let us celebrate the contribution of MSEs in driving India's growth landscape. Ministry of Micro, Small and Medium Enterprises, Government of India India SME Forum #GeMIndia #MSMEDay2024 #MSMEDay #InternationalMSMEDay
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Discover how Indian government initiatives are empowering MSMEs and driving economic growth! Prime Minister's Employment Generation Programme (PMEGP): PMEGP aims to generate employment by establishing new self-employment ventures. It provides financial assistance to entrepreneurs, facilitating the creation of small enterprises in both rural and urban areas. Micro and Small Enterprises Cluster Development Programme (MSE-CDP): MSE-CDP enhances the productivity and competitiveness of MSMEs by facilitating the creation of Common Facility Centers (CFCs), infrastructure development, and skill development programs. Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE): CGTMSE provides collateral-free credit to MSMEs, alleviating financial constraints and enabling access to formal credit without collateral, thus encouraging entrepreneurship and business expansion. Udyog Aadhaar Memorandum (UAM): UAM is a simplified registration form for MSMEs, replacing the cumbersome registration process. It reduces the time and effort required to register an enterprise, making it easier for businesses to formalize and access government benefits. Technology Upgradation and Quality Certification (TEQUP): TEQUP offers financial support for the upgradation of technology and the adoption of best practices in MSMEs, helping improve their competitiveness in the global market. Atmanirbhar Bharat Abhiyan (Self-Reliant India Campaign): The Self-Reliant India Campaign includes measures specifically targeted at MSMEs, such as collateral-free automatic loans, subordinate debt for stressed MSMEs, and equity infusion through the Fund of Funds. These initiatives collectively create a robust ecosystem for MSMEs, fostering growth, innovation, and sustainable development, thus paving the way for MSMEs to thrive and contribute to the nation's economic prosperity. #MSME #India #EconomicGrowth #Entrepreneurship #GovernmentInitiatives #SustainableDevelopment #Innovation #SupportLocal #AtmanirbharBharat
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HEEP 2020 serves as a transformative force for Haryana's economy and businesses. This policy actively promotes MSMEs, the Thrust sector, and the Service sector by offering tailored incentives, subsidies, and financial support. Whether it's doubling exports or attracting investments totaling over INR 1 lakh crore, Haryana is setting a higher standard for conducting business with ease. Additionally, the policy is re-evaluating 100 state statutes, encompassing guidelines, rules, and regulations. Reliance MET City further enhances these opportunities by providing businesses with enticing incentives to foster growth and expansion within the region. Investharyana MyGov India G20 India B20 India MakeinIndia.2023 Reliance Industries Limited Investharyana S V Goyal Vaibhav Mittal #RelianceMETCity #METCity #METL #RelianceIndustries #HEEP2020, #TransformingHaryana, #MSMEPromotion #ThrustSector, #ServiceSector #TailoredIncentives, #Subsidies, #FinancialSupport, #DoublingExports, #Investments, #EaseofDoingBusiness, #ReevaluatingStatutes,
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