MSME Jobs Under Udyam portal cross 27 crore mark

The Ministry of Micro, Small and Medium Enterprises (MSMEs) reported 27 crore jobs since the launch of the Udyam portal in July 2020.

Around 6.29 crore MSMEs with Udyam registration have generated over 27.30 crore jobs. As of April 2024, the count of jobs created has seen 45% growth from approx. 18.5 crore jobs.

Informal MSMEs not registered under the Goods and Services Tax (GST) created over 3.23 crore jobs under the Government’s Udyam Assist Platform (UAP). Of the remaining 23.7 crore jobs, 26% amounting to 6.25 crore jobs is held by women employees in MSMEs.

According to reports, the Government is “targeting at reducing regulatory frictions, digitising approvals, and integrating MSMEs into global value chains while extending special support to women-led and rural enterprises to help enhance economic opportunities and ensure more inclusive growth.”

The MSME Ministry in its annual report highlighted 11.10 crore jobs created by 6.33 crore MSMEs in India, including 3.60 crore jobs by MSMEs in the manufacturing sector, 7,000 jobs in the non-captive electricity generation and transmission, 3.87 crore in trade, and 3.62 crore in other services.

In terms of enterprise type, 10.76 lakh jobs were reported to be created by micro-units, 31.95 lakh by small businesses, and only 1.75 lakh by medium businesses.

The government, in this year’s budget, has expanded the MSME definition for more enterprises to benefit from the existing MSME-related scheme including job creation.

The new MSME definition, which capped investment in micro enterprises at Rs 1 crore and turnover at Rs 5 crore; Rs 10 crore investment and Rs 50 crore turnover in small enterprises; and Rs 50 crore investment and Rs 250 crore turnover in medium enterprises.

The investment and turnover limits for micro units have been increased to Rs 2.5 crore and Rs 10 crore, Rs 25 crore and Rs 100 crore for small enterprises, and Rs 125 crore and Rs 500 crore for medium enterprises, respectively.