Prime Minister Shri Narendra Modi, today, participated in the Udyami Bharat Programme in New Delhi. Shri. Modi also launched the ‘Raising and Accelerating MSME Performance’ (RAMP) scheme. The scheme aims to scale up the implementation capacity and coverage of MSMEs in the states, with impact enhancement of existing MSME 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.
Prime Minister Modi also digitally transferred assistance to beneficiaries of PMEGP for 2022-23 and also announced the results of the MSME Idea Hackathon, 2022. Shri Modi distributed National MSME Awards, 2022 along with which Digital Equity Certificates to 75 MSMEs in the Self Reliant India (SRI) Fund were distributed. Also, the launch of ‘Capacity Building of First-Time MSME Exporters’ (CBFTE) scheme took place, that aims at encouraging MSMEs to offer products and services of international standards for the global market. This will help in enhancing the participation of Indian MSMEs in the global value chain and help them realize their export potential. The Prime Minister will also launch new features of the ‘Prime Minister’s Employment Generation Programme’ (PMEGP). These include an increase in the maximum project cost to Rs. 50 lakh (from Rs 25 lakh) for manufacturing sector and Rs. 20 lakh (from Rs 10 lakh) in the service sector and the inclusion of applicants from aspirational districts and transgenders in the Special Category applicants for availing higher subsidies.
The Government has launched several initiatives like the MUDRA Yojana, Emergency Credit Line Guarantee Scheme and the Scheme of Fund for Regeneration of Traditional Industries. All the following schemes have been implemented in order to provide necessary support to the MSME Sector which has benefitted number of people across the nation.