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PM Modi To Speak At Udyami Bharat Programme For MSMEs On Thursday

Prime Minister Narendra Modi will participate in the 'Udyami Bharat' programme to launch the 'Raising and Accelerating MSME Performance' and 'Capacity Building of First-Time MSME Exporters' schemes.

PM Modi

Image: PTI

Prime Minister Narendra Modi will participate in 'Udyami Bharat' programme at Vigyan Bhawan here on Thursday and will launch the 'Raising and Accelerating MSME Performance' and 'Capacity Building of First-Time MSME Exporters' schemes and new features of the 'Prime Minister's Employment Generation Programme' (PMEGP), the PMO said.

Modi will also digitally transfer assistance to beneficiaries of PMEGP for 2022-23, announce results of MSME Idea Hackathon 2022, distribute National MSME awards, 2022, and issue Digital Equity Certificates to 75 MSMEs in Self Reliant India (SRI) fund, it said. Udyami Bharat is reflective of the continuous commitment of the government right from day one to work towards the empowerment of MSMEs, the PMO said.

The government has launched several initiatives from time to time like the MUDRA yojana, emergency credit line guarantee scheme and scheme of fund for regeneration of traditional industries (SFURTI) among others to provide necessary and timely support to the MSME sector, which has helped benefit crores of people across the country, it said.  Modi will launch the RAMP scheme, with an outlay of around Rs 6,000 crore. It aims to scale up the implementation capacity and coverage of MSMEs in states, with impact enhancement of existing 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, the PMO said.

The CBFTE 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.

Among the 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 the special category applicants for availing higher subsidies.  During the event, Modi will announce the results of the MSME Idea Hackathon, in 2022.

Launched on 10th March 2022, this hackathon is aimed at promoting and supporting the untapped creativity of individuals and promoting the adoption of the latest technologies and innovation among MSMEs. The selected incubate ideas will be provided funding support of up to Rs 15 lakhs per approved idea, the PMO said.  It will also distribute the national MSME awards in 2022. The award is a recognition of the contributions of MSMEs, states and UTs, aspirational districts and banks for their outstanding performance in the growth and development of India's dynamic MSME sector, the PMO said.

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