MSME registration in FY 20 rises by 18.49 per cent: Govt
New Delhi, March 24 (KNN) The number of registered Micro Small and Medium Enterprises (MSMEs) in Fiscal Year 2020 has been risen by 18.49 per cent to 25.13 lakh units from 21.21 lakh in Fiscal Year 2019, said MSME Minister Nitin Gadkari.
As per the data shared by MSME Minister, in Rajya Sabha, on Monday, ''the growth rate, declined from 39.7 per cent in the last financial year that had increased from 15.17 lakh MSMEs registered in FY18, the data.
Overall, the number of registered MSMEs in India in the past five years stood at 90.19 lakh.
MSME Ministry's Fiscal Year 2019 annual report reveals that the MSME sector is dominated by micro-enterprises.
India has 6.33 crore MSMEs out of which 6.30 crore — 99.4 per cent are micro-enterprises while 0.52 per cent — 3.31 lakh are medium and 0.007 per cent — 5,000 are medium enterprises.