8.7 crore MSMEs driving economic growth, supporting livelihoods of 38 crore people: Minister
New Delhi, June 27
India's 8.7 crore MSMEs are driving economic growth by contributing 31 per cent of GDP, 35 per cent of manufacturing output, and nearly 45 per cent of exports, while supporting the livelihoods of 38 crore people -- under the visionary leadership of Prime Minister Narendra Modi, Shobha Karandlaje, Union Minister of State for Micro, Small and Medium Enterprises, said on Saturday.
The rise in MSME bank credit from Rs 10 lakh crore in 2014 to Rs 37 lakh crore by December 2025 reflects the government's unwavering commitment to empowering entrepreneurs. The minister said as she participated in the 'MSME Day 2026' celebrations here.
"Today, we launched PMEGP 2.0, MSME Samadhaan 2.0, PMS 2.0, MSME Global Mart 2.0, and the Testing Centre Portal, making access to credit, markets, and quality services easier than ever. Together, we are strengthening MSMEs and advancing the vision of Viksit Bharat 2047," Karandlaje added.
MSME sector is considered as the engine of growth of the Indian economy, and entrepreneurs are the drivers of this growth.
"The Ministry of MSME provides digital support, skill development, technology, and marketing linkages. You, the entrepreneurs, are partners in India's development. The MSME sector is much more than enterprises; their dreams taking shape, ideas turning into enterprises, and hard work transforming lives," she said.
Bharat Khera, Secretary, Ministry of MSME, presented an overview of the MSME sector, highlighting its role in India's economic growth and outlining the key initiatives and schemes being implemented by the Ministry of MSME. He complimented all the stakeholders for contribution in the MSME sector.
The Ministry launched Multilingual Access on MSME Portals, enabling a multilingual and voice-enabled ecosystem across MSME websites and portals.
The initiative provides access to MSME services in all 22 Scheduled Indian languages and includes AI-enabled voice grievance redressal and document translation facilities, thereby enhancing accessibility and digital inclusion.
— IANS
Reader Comments
As someone who runs a small manufacturing unit in Pune, this is heartening. The launch of PMEGP 2.0 and the multilingual portals will help so many people who don't speak English navigate the system. Finally some practical steps towards Viksit Bharat! 🇮🇳
Interesting numbers. I'm an export consultant from Bangalore. While the credit growth is impressive, we need more focus on quality compliance and global market access for MSMEs. The Global Mart 2.0 sounds promising - hope it addresses real pain points like certification and logistics.
Bahut achcha! 8.7 crore MSMEs and 38 crore livelihoods - these are massive numbers. The MSME sector truly is the backbone of our economy. But the real test will be implementation at the ground level. Many small business owners still struggle with paperwork and delayed payments. Hopefully Samadhaan 2.0 will fix that!
I work with women entrepreneurs in rural Karnataka. The multilingual portal is a game-changer! Many women in our SHGs were intimidated by English-only systems. But we need more dedicated support for micro-enterprises run by women and SC/ST communities. Hope the new schemes have specific allocations for them.
As a freelance consultant working with Indian startups, I see the energy in the MSME space every day. The contribution of 31% to GDP is significant. But I wish the article mentioned specific steps for reducing red tape. Many small entrepreneurs I know still face bureaucratic hurdles despite the digital push.
We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.