ENA MSME 2024-11-21 15:43:29 <p><span style="font-size:14px"><strong>New Delhi, Nov 21 (KNN)</strong> The micro, small, and medium enterprises (MSME) sector in India has reported a significant surge in employment, crossing the 23-crore mark.</span></p> <p><span style="font-size:14px">Official data from the MSME Ministry reveals that 5.49 crore MSMEs registered on the Udyam portal have generated 23.14 crore jobs as of November 2024. This marks a substantial rise from 13.15 crore jobs recorded by 2.33 crore MSMEs in August 2023, translating to 10 crore new jobs in just 15 months.</span></p> <p><span style="font-size:14px">The total includes 2.84 crore jobs created by 2.38 crore informal micro units registered through Udyam certification, alongside 5.23 crore jobs held by women.</span></p> <p><span style="font-size:14px">Micro enterprises dominate the registered units, numbering 5.41 crore, followed by 7.27 lakh small enterprises and 68,682 medium enterprises. Since the Udyam portal's launch in July 2020, the sector has shown consistent growth, starting from 2.8 crore recorded jobs.</span></p> <p><span style="font-size:14px">However, historical data from the National Sample Survey (2015-16) shows that 6.33 crore unincorporated MSMEs provided 11.10 crore jobs across manufacturing, trade, services, and other sectors, indicating a dynamic and evolving employment landscape.</span></p> <p><span style="font-size:14px">Despite this growth, job losses have also been a concern. Data shared by MSME Minister Jitan Ram Manjhi earlier this year revealed that 49,342 MSMEs have shut down since 2020, resulting in the loss of 3.17 lakh jobs. The closures were attributed to reasons like changes in ownership, redundant certifications, and duplicate registrations.</span></p> <p><span style="font-size:14px">In a related development, the government has reduced the turnover threshold to Rs 250 crore for companies to access the Trade Receivables Discounting System (TReDS), aiming to enhance cash flow and boost MSME operations.</span></p> <p><span style="font-size:14px">With the MSME sector serving as a backbone of the Indian economy, contributing significantly to employment and GDP, the increase in jobs underscores its resilience and potential. However, addressing closures and ensuring the sector's sustainability remain critical for its continued success.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 39988 https://knnindia.co.in/news/newsdetails/msme/msme-jobs-in-india-cross-23-crore-mark-adding-10-crore-jobs-in-15-months 2024-11-21 15:43:29 knnindia.co.in