6.63 Crore Enterprises Registered on Udyam and Udyam Assist Platforms

The Ministry of Micro, Small and Medium Enterprises (MSME) has intensified its efforts to strengthen India’s entrepreneurial ecosystem, with 6.63 crore enterprises registered on the Udyam and Udyam Assist platforms since their launch. These platforms have become the backbone of formalizing and supporting small businesses across the country, ensuring that micro, small, and medium entrepreneurs have easier access to credit, schemes, and government benefits.

The Udyam Registration, operational since July 1, 2020, has simplified the ease of doing business for MSMEs. Complementing it, the Udyam Assist Platform (UAP) was introduced to bring Informal Micro Enterprises (IMEs) into the formal credit ecosystem, enabling them to avail benefits under Priority Sector Lending (PSL).

Several policy reforms have further boosted the sector. The inclusion of retail and wholesale traders as MSMEs from July 2, 2021, has widened the ambit of beneficiaries. Additionally, the revamped Credit Guarantee Scheme, supported with ₹9,000 crore, aims to unlock an additional ₹2 lakh crore in credit for MSEs, significantly enhancing employment opportunities.

Another landmark initiative, the PM Vishwakarma Scheme, launched on September 17, 2023, offers holistic support to traditional artisans and craftspeople across 18 trades. In parallel, the Self-Reliant India (SRI) Fund, with a corpus of ₹50,000 crore, is nurturing high-potential MSMEs to scale up into larger units.

To ease access to finance, the government has allowed collateral-free loans up to ₹10 crore with 90% guarantee coverage under the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE). Moreover, the Trade Receivables Discounting System (TReDS) has been set up to tackle the persistent issue of delayed payments by enabling electronic financing of receivables from corporates and PSUs.

Employment generation has also been prioritized through the Prime Minister’s Employment Generation Programme (PMEGP), which recently doubled the maximum project cost limits to ₹50 lakh for manufacturing and ₹20 lakh for services, thereby broadening its scope.

Speaking in the Rajya Sabha, Minister of State for MSME Sushri Shobha Karandlaje highlighted that these initiatives collectively reflect the government’s commitment to make MSMEs globally competitive while strengthening their role as the backbone of India’s economy.

In conclusion, the Ministry of MSME’s comprehensive measures reflect a determined push towards strengthening the sector through digital inclusion, easier credit access, skill development, and global market integration. By addressing both traditional and emerging needs of entrepreneurs, these initiatives are creating a robust ecosystem where micro, small, and medium enterprises can thrive. With 6.63 crore MSMEs already registered under Udyam and Udyam Assist, the momentum is clear—India’s MSMEs are not only gaining resilience but are also positioning themselves as key drivers of innovation, employment, and sustainable economic growth.