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PM Modi launches programs to strengthen MSME sector; check details here

PM Modi launches programs to strengthen MSME sector;  check details here

 


Prime Minister Narendra Modi launched on June 30 the 6,000 crore Ramp Up and Accelerate Performance of MSMEs (RAMP) program under the ‘Udyami Bharat’ program at Vigyan Bhawan in New Delhi.

The Prime Minister said that for orders up to 200 crores, no global tender will be undertaken.

“It is our government’s decision not to conduct global competitive bidding in public procurement until 200 crores. In this, your reservation is somehow. You must show by doing something that the government must ban global bidding in public procurement until 500 crore, he said.

Addressing the program, he also said that more than 500 crores were digitally transferred to 18,000 MSMEs

We have resolved to make our local production unique in every district and part of our country, global… with a focus on developing the MSME sector… More than 500 crores were digitally transferred to 18,000 MSMEs; I congratulate the MSME sector,” he said.

The Prime Minister also said that the effort is to create a local supply chain for Make in India which can reduce India’s dependence on foreign countries.

We have decided to globalize local products. The effort is to create a local supply chain for Make in India, which can reduce India’s dependence on foreign countries. Hence, an unprecedented focus is being placed on the expansion of the MSME sector,” Prime Minister Modi said.

“In order to strengthen the MSME sector, our government has increased the budget by more than 650% over the past eight years. PM Modi.

The PM urged all MSMEs to register on the GeM portal.

I urge all our MSMEs to register on the GeM portal. The government will be able to buy your products,” he said.

If India wins 100 today, 30 comes because of our MSME sector… for us, MSME means – maximum support for micro, small and medium enterprises…”

The RAMP program has expenses of approximately 6,000 crore, the PMO statement had said. The program aims to scale up implementation capacity and coverage of MSMEs in states, with improved impact of existing MSME programs. It will complement the Aatmanirbhar Bharat Abhiyan by fostering innovation, encouraging ideation, incubating new ventures and entrepreneurship by developing quality standards, improving practices and processes, improving the market access, deploying technological tools and Industry 4.0 to make MSMEs competitive and self-sufficient.

During the event, the Prime Minister also launched the “Capacity Building for First Time Exporting MSMEs” (CBFTE) program and the new features of the “Prime Minister’s Job Creation Program” (PMEGP).

The “Capacity Building for MSME First Time Exporters” (CBFTE) program aims to encourage MSMEs to offer products and services that meet international standards for the global market. This will enhance the participation of Indian MSMEs in the global value chain and help them realize their export potential.

According to the Prime Minister’s Office (PMO), “Udyami Bharat” reflects the government’s continued commitment from day one to work towards the empowerment of MSMEs. Government has launched several initiatives from time to time such as MUDRA Yojana, Emergency Line of Credit Guarantee Scheme and Fund for Regeneration of Traditional Industries (SFURTI) Scheme to provide needed and timely support to the MSME sector, which has helped to benefit millions of people. Across the country.

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Sources

1/ https://Google.com/

2/ https://www.livemint.com/news/india/pm-modi-launches-schemes-for-msme-sector-check-all-details-here-11656568339690.html

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