Contrary To Fears of 43B, 6.29 Lakh MSMEs Register In Gujarat In 2023-24

Gandhinagar, Aug 1 (KNN) In a significant boost to the state's economic landscape, Gujarat has witnessed a substantial growth in its Micro, Small and Medium Enterprises (MSME) sector, according to state government spokesperson and Health Minister Rushikesh Patel.

Speaking at a press conference on Wednesday, Minister Patel revealed that Gujarat added an impressive 6.29 lakh new MSME units in the fiscal year 2023-24 alone.

This surge brings the total number of MSMEs registered in the state over the past four years to a staggering 19.63 lakh.

Breaking down the figures, Patel elaborated that of the 6,29,103 new registrations, the vast majority - 18,73,079 - fall under the micro enterprise category. Small enterprises account for 81,573 of the new units, while medium enterprises make up the remaining 8,448.

The minister highlighted the state's strong performance on the national stage, noting that both Surat and Ahmedabad districts have secured positions among the top 10 districts in India for Udyam portal registrations.

The Udyam portal, a government initiative, streamlines the MSME registration process and has become a key indicator of entrepreneurial activity across the country.

"This remarkable growth underscores Gujarat's commitment to fostering a vibrant MSME ecosystem," Patel stated. "It's a testament to the entrepreneurial spirit of our people and the effectiveness of our policies."

The state cabinet, led by Chief Minister Bhupendra Patel, has taken note of these encouraging developments. According to Minister Patel, the Chief Minister has directed the industries department to ensure that MSMEs continue to benefit from favourable policies, recognising their crucial role in the state's economic development.

This surge in MSME registrations is expected to have a significant impact on job creation and economic growth in Gujarat, further cementing its position as one of India's leading industrial hubs.

As Gujarat continues to prioritise the MSME sector, industry experts anticipate sustained growth and increased contributions to the state's GDP in the coming years.

(KNN Bureau)