Contribution of the MSME Sector in GDP

Contribution of the MSME Sector in GDP

As per the latest information received from the Ministry of Statistics & Programme Implementation, share of MSME Gross Value Added (GVA) in all India GDP and Share of MSME Manufacturing Output in All India Manufacturing Output (in %) are as follows:

Year
Share of MSME GVA in All India GDP (in %)
Share of MSME Manufacturing Output in All India Manufacturing Output (in %)
2017-18
29.7%
37.4%
2018-19
30.5%
36.9%
2019-20
30.5%
36.6%
2020-21
27.2%
36.9%
2021-22
29.1%
36.2%

The Ministry of Micro, Small and Medium Enterprises implements various schemes and programmes aimed at support and development of MSME Sector in the country in areas of credit support, new enterprise development, formalization, technological assistance, infrastructure development, skill development and training and market assistance to MSMEs. These schemes/programmes include MSME Champions Scheme, Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), Prime Minister’s Employment Generation Programme (PMEGP), Micro and Small Enterprises – Cluster Development Programme (MSE-CDP) and Raising and Accelerating MSME Performance (RAMP).

Further Government has taken a number of initiatives to support the MSME Sector. Some of them are:

The Udyam Registration Portal was launched on 01.07.2020 to facilitate ease of registration for MSMEs and access to all the Schemes and benefits. The registration process is free of cost, paperless and digital. As on 05.02.2024, more than 3.64 crore MSMEs with an employment of more than 16.86 crore, have registered on Udyam Portal (this includes the Informal Micro Enterprises (IMEs) registered on Udyam Assist Platform (UAP)). The Government has also launched Udyam Assist Platform on 11.01.2023 to bring Informal Micro Enterprises (IMEs) under the formal ambit for availing the benefits under Priority Sector Lending. The following steps have been taken by the government to promote MSMEs:

This information was given by the Minister of State for Micro Small and Medium Enterprises, Shri Bhanu Pratap Singh Verma in a written reply to the Lok Sabha today.

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