25 Crore MUDRA loans sanctioned; 70% to women entrepreneurs: President Kovind

New Delhi, Jan 29 (KNN) The Micro, Small & Medium Enterprises (MSMEs) figured prominently in the address by the President of India Shri Ram Nath Kovind to the joint sitting of two houses of the Parliament.

“Our small scale industries, cottage industries and MSMEs spread across the villages and small towns are the backbone of our economy. These small scale industries have immense potential of making India self-reliant. This sector accounts for about 50% of India’s total exports”, President said.

Highlighting that Women entrepreneurs have a vital role to play in building a self-reliant India, President disclosed that under the MUDRA scheme, more than 25 crore loans have been sanctioned so far, of which nearly 70% have been given to women entrepreneurs.

President stated that several steps have been taken to enhance the role of MSMEs in the mission aimed at developing an Atmanirbhar Bharat.

He mentioned initiatives such as Emergency Credit Guarantee Scheme for Rs 3 lac crore, special scheme of Rs 20,000 crore for MSMEs in distress and Fund of Funds have benefitted lakhs of small scale industries.

“Besides ushering in greater transparency, the GeM portal has facilitated increased participation of the MSMEs even in far flung and remote areas in Government procurement”, he added.

“Under schemes like Hunar Haat and USTTAD, not only the skills of lakhs of crafts persons are being developed but employment opportunities are also being generated. Under these schemes, women crafts persons comprise more than half of the beneficiaries. These crafts persons are being connected to the global market through e-haat”.

President Kovind informed that under Deendayal Antyodaya Yojana - Rashtriya Grameen Ajeevika Mission, more than 7 crore women entrepreneurs have become a part of the network of nearly 66 lakh Self Help Groups in the country. These women groups have been provided bank loans worth Rs 3,40,000 crore in the last 6 years.