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Resource: PIB, 29 November 2021


Making Corporate India Comply

The Standing Finance Committee has approved the MSME Champions Scheme with a total outlay of Rs. 273.24 Cr.

As part of this Scheme a ‘Digital MSME’ component has been included for digital empowerment of MSMEs in the country.

In addition to this, there are several Technology Centres under the Ministry are also assisting on technological and automation interventions along with training support.

In regard to international trade digitization of local enterprises, the Standing Finance Committee has approved the International Cooperation Scheme comprising of First Time Exporters and Global Marketing Intelligence System with a total outlay of Rs. 90 Cr.

The Ministry is operating two schemes for setting up business incubators in educational institutes to facilitate innovation. These are “Support for Entrepreneurial and Managerial Development of MSMEs through Incubators Scheme” and ASPIRE (A Scheme for Promotion of Innovation, Rural Industry & Entrepreneurship) Scheme.

The Government is taking necessary steps through the Digital MSME Scheme, with the following objectives:

· To empower & enable MSMEs to harness IT as a medium of communication to revamp access to the markets to update their managerial and technical knowledge though online content–both static and dynamic.

· To give them software interventions, evolving their internal efficiencies by way of intense ICT intake and automating procedure for cost reduction, imparting digital literacy and capacity enhancement for information access, processing, collaboration and dissemination.

· To offer to the MSMEs a safe and sound bouquet of customized digital solutions which have been designed keeping in mind the diverse requirements of the eco-system, saving them from the travails of indiscreet and indiscriminate adoption of technology.


This information was given by the Minister for Micro, Small and Medium Enterprises Shri Narayan Rane in a written reply to Rajya Sabha today. Posted On: 29 NOV 2021 6:16PM by PIB Delhi Digitizing and Automating the MSME Sector

Government has taken a number of initiatives under Aatma Nirbhar Bharat Abhiyan to support the MSME Sector in the country especially in Covid-19 pandemic.

Some of them are: i) Rs 20,000 crore Subordinate Debt for MSMEs.

ii) Rs. 3 lakh crores Collateral free Automatic Loans for business, including MSMEs.

iii) Rs. 50,000 crore equity infusion through MSME Fund of Funds.

iv) New revised criteria for classification of MSMEs.

v) New Registration of MSMEs through ‘Udyam Registration’ for Ease of Doing Business

. vi) No global tenders for procurement up to Rs. 200 crores, this will help MSME. An online Portal “Champions” has been launched on 01.06.2020 by Prime Minister.

This covers many aspects of e-governance including grievance redressal and handholding of MSMEs. Through the portal, total 40,201 grievances have been redressed upto 21.11.2021.

The Ministry of MSME implements various schemes and programmes for growth and development of MSME Sector in the country. These schemes and programmes include Prime Minister’s Employment Generation programme (PMEGP), Scheme of Fund for Regeneration of Traditional Industries (SFURTI), A Scheme for Promoting Innovation, Rural Industry & Entrepreneurship (ASPIRE), Credit Guarantee Scheme for Micro and Small Enterprises, Micro and Small Enterprises Cluster Development Programme (MSE-CDP). To provide further relief to the MSME Sector especially during Covid-19, Government has taken following measures recently: – The validity of Udyog Aadhar Memorandum (UAM) has been extended up to 31.12.2021 vide notification no. S.O. 2347(E) dated 16.06.2021. – On 02.07.2021, the Government has included retail and whole sale trades as MSMEs and they are allowed to be registered on Udyam Registration Portal. However, the benefits to Retail and Wholesale trade MSMEs are to be restricted to Priority Sector Lending only. –

Now, street Vendors can also register as retail traders on Udyam Registration (UR) portal and avail the benefit of Priority Sector Lending. This information was given by the Minister for Micro, Small and Medium Enterprises Shri Narayan Rane in a written reply to Rajya Sabha today.

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