Prime Minister Narendra Modi participated in the ‘Udyami Bharat’ programme

Prime Minister Narendra Modi participated in the ‘Udyami Bharat’ programme and launched key initiatives like ‘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) to ramp up the MSME sector.

Modi also digitally transferred assistance to beneficiaries of PMEGP for 2022-23; announced results of the MSME Idea Hackathon, 2022; distributed National MSME Awards, 2022; and issued Digital Equity Certificates to 75 MSMEs in the Self Reliant India (SRI) Fund.

RAMP scheme with an outlay of around Rs 6000 crore, 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, stated a PMO presser.

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.

New features of the PMEGP include an increase in the maximum project cost to Rs 50 lakhs from Rs 25 lakhs for the manufacturing sector and Rs 20 lakhs from Rs 10 lakhs in the service sector and inclusion of applicants from aspirational districts & transgenders in special category applicants for availing higher subsidies. Also, handholding support is being provided to applicants/entrepreneurs through the engagement of banking, technical & marketing experts.

MSME Idea Hackathon, 2022 was aimed at promoting and supporting the untapped creativity of individuals, promoting the adoption of the latest technologies and innovation among MSMEs. The selected incubatee ideas will be provided funding support of up to Rs. 15 lakhs per approved idea.

National MSME Awards 2022 is a recognition of the contributions of MSMEs, states/UTs, Aspirational Districts and Banks for their outstanding performance in the growth and development of India’s dynamic MSME sector.