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Over 7.9 Crore MSMEs Registered on Udyam Platforms, Formalisation Boost

The government has formalised over 7.9 crore micro, small, and medium enterprises (MSMEs) through the Udyam and Udyam Assist platforms. Key initiatives include the PM Vishwakarma Scheme, which has registered over 30 lakh artisans and approved nearly 5.9 lakh loans. A Rs 10,000 crore SME Growth Fund and enhanced credit guarantee coverage aim to improve capital access. MSMEs contribute 31.1% to India's GDP and employ about 32.8 crore people.

Key Points: 7.9 Crore MSMEs Registered on Udyam Platforms

  • Over 7.9 crore enterprises registered via Udyam and Udyam Assist platforms
  • PM Vishwakarma Scheme registers 30 lakh artisans, over 5.9 lakh loans approved
  • Rs 10,000 crore SME Growth Fund and enhanced CGS guarantee coverage to Rs 10 crore
  • MSMEs contribute 31.1% to GDP, employ 32.8 crore people
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Over 7.9 crore enterprises register through Udyam platforms

India formalises over 7.9 crore MSMEs via Udyam platforms. Key measures include credit access, PM Vishwakarma Scheme, and a Rs 10,000 crore SME Growth Fund.

"Collectively, these efforts are strengthening the MSME ecosystem and advancing inclusive growth across rural and semi‑urban India. - Government Statement"

New Delhi, May 14

The government has accelerated formalisation of unregistered enterprises through the Udyam and Udyam Assist platforms, bringing over 7.9 crore MSMEs and informal micro enterprises into the formal economy, an official statement said on Thursday.

Targeted policy measures are improving access to credit, strengthening legal safeguards and enhancing ease of doing business, while digital platforms such as GeM, TReDS and SAMADHAAN are enabling better market access and faster payments, the statement noted.

Collectively, these efforts are strengthening the MSME ecosystem and advancing inclusive growth across rural and semi‑urban India.

Over 30 lakh artisans had registered under the PM Vishwakarma Scheme and over 26.7 lakh beneficiaries completed skill verification and more than 23.7 lakh underwent basic training, the government said.

Nearly 5.9 lakh loans amounting to nearly Rs 5,050 crore have been approved and over 25.8 lakh e‑vouchers issued to support toolkit incentives and enterprise development.

Further, the government highlighted measures to ensure capital availability, including a Rs 10,000 crore SME Growth Fund and additional allocations to the Self‑Reliant India (SRI) Fund under the Union Budget 2026-27.

The MSME ministry implemented the Credit Guarantee Scheme (CGS) through the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE). As per the Union Budget 2025-26, the ceiling of guarantee coverage under CGS has been enhanced from Rs 5 crore to Rs 10 crore for banks.

Going forward, continued convergence between digital platforms, financial institutions, and grassroots implementation agencies will be crucial to ensure the benefits reach last-mile entrepreneurs, artisans, rural traders, and first-generation micro enterprise owners, the statement said.

MSMEs contribute about 31.1 per cent to India's GDP, account for 48.58 per cent of total exports, and generate around 35.4 per cent of manufacturing output. The sector encompasses more than 7.47 crore enterprises across manufacturing, services, and trade activities. It provides livelihoods to approximately 32.8 crore people, making it the second-largest source of employment after agriculture.

- IANS

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Reader Comments

P
Priya S
Numbers look impressive—7.9 crore is huge. But I hope the ground reality matches these stats. Many small vendors in our local market still don't know about these platforms. Awareness campaigns in regional languages are badly needed.
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James A
Interesting to see the focus on PM Vishwakarma and skilling. My cousin in Bengaluru trained under a similar scheme and got a job in a textile unit. If scaled right, this can really help our rural youth. Good move by the government.
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Kavya N
The Credit Guarantee Scheme enhancement from Rs 5 crore to Rs 10 crore is a solid step. MSMEs always face the 'collateral problem' when seeking bank loans. But banks need to simplify their processes too—not just increase limits.
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Naveen S
As someone who runs a small packaging unit in Coimbatore, I can say GeM and TReDS have made a big difference in getting timely payments. Earlier, big companies used to delay payments for months. At least now there's some system to follow.
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Sneha F
The 32.8 crore livelihoods statistic is mind-boggling—that's almost the population of some countries! But we must ensure that formalisation doesn't lead to increased compliance burden for small entrepreneurs. Simplify GST, reduce paperwork—that's the real ease of doing business.
R
Rajesh Q

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