The central government is working on a web portal, Udyami Bharat, where entrepreneurs of micro, small and medium enterprises (MSMEs) can access details of all schemes related to the sector run by different ministries, a senior government official privy to the development said.
“The MSME ministry is planning to create a new portal for entrepreneurs with an investment of Rs 130 crore, where they can find all details related to their field after entering their Udyam registration number,” said the official.
The government official, who did not wish to be named, said that they have partnered with Nexi, a technology company, for this project.
“Phase one will commence by September 2024, during which the MSME ministry will integrate their own schemes through API (Application Programming Interfaces). Following the launch, a team of 15 people will work on this project. It will be hosted on the NIC cloud,” the official said.
An email query sent to the MSME ministry did not elicit any response till the time of going to the press.
As of December 2023, over 30 million MSMEs were registered in the country, according to government data. Services constitute the largest segment of the sector.
Last month, the Ministry of Agriculture launched a web portal for faster bank settlements of interest subsidy claims under the Agriculture Infrastructure Fund (AIF).
An enterprise is classified as a MSME based on a set of criteria.
A micro-enterprise is where the investment in plant and machinery or equipment does not exceed Rs 1 crore, and turnover does not surpass Rs 5 crore. A small enterprise is where the investment in plant and machinery or equipment does not exceed Rs 10 crore, and turnover does not exceed Rs 50 crore. And a medium enterprise is where the investment in plant and machinery or equipment does not exceed Rs 50 crore, and turnover does not surpass Rs 250 crore.
MSMEs are crucial to job creation in India, contributing around 29 per cent to the country’s gross value added and approximately 45 per cent to its exports.
First Published: Jul 09 2024 | 9:13 PM IS