Government to Launch 'Udyami Bharat' Portal for MSMEs

ENA MSME 2024-07-10 14:54:41 New Delhi, Jul 10 (KNN) In a significant move to streamline access to information for micro, small, and medium enterprises (MSMEs), the central government is developing a comprehensive web portal called 'Udyami Bharat'. This initiative aims to provide entrepreneurs with a one-stop platform for details on all MSME-related schemes across various ministries. A senior government official, speaking on condition of anonymity, revealed that the MSME ministry is spearheading this project with an investment of Rs 130 crore. The portal will allow entrepreneurs to access relevant information by simply entering their Udyam registration number. The government has partnered with technology company Nexi for this ambitious project. The first phase is slated to commence by September 2024, during which the MSME ministry will integrate its own schemes through Application Programming Interfaces (APIs). Following the launch, a dedicated team of 15 professionals will manage the project, with the portal being hosted on the National Informatics Centre (NIC) cloud. This development comes at a crucial time for India's MSME sector. As of December 2023, over 30 million MSMEs were registered in the country, with the services segment constituting the largest portion. MSMEs play a vital role in India's economy, contributing approximately 29 per cent to the country's gross value added and 45 per cent to its exports. The 'Udyami Bharat' portal is expected to significantly benefit the MSME sector, which is classified into three categories based on investment and turnover. Micro-enterprises are defined as those with investment up to Rs 1 crore and turnover up to Rs 5 crore. Small enterprises are those with investment up to Rs 10 crore and turnover up to Rs 50 crore. Medium enterprises are classified as having investment up to Rs 50 crore and turnover up to Rs 250 crore. This initiative follows the recent launch of a web portal by the Ministry of Agriculture for faster bank settlements of interest subsidy claims under the Agriculture Infrastructure Fund (AIF), indicating a growing trend towards digital solutions in government services. The MSME ministry has not yet responded to requests for comment on this development. As the project progresses, it is expected to provide much-needed support to India's vast MSME sector, which is crucial for job creation and economic growth. (KNN Bureau) 38538 https://knnindia.co.in/news/newsdetails/msme/government-to-launch-udyami-bharat-portal-for-msmes 2024-07-10 14:54:41 knnindia.co.in Government to Launch 'Udyami Bharat' Portal for MSMEs