Chandigarh MSME Sector Recovers with Steady Growth in New Registrations Post-Pandemic

ENA MSME 2025-02-25 14:31:04 Chandigarh, Feb 25 (KNN) The micro, small, and medium enterprises (MSME) sector, the backbone of Chandigarhs industrial growth, has witnessed a steady rise in new registrations over the past three financial years, signalling resilience after the Covid-19-induced economic slump. According to data from the Union Ministry of MSMEs, 4,564 new MSMEs were registered in FY 2021-22, which increased to 4,764 in FY 2022-23, and further to 5,198 in FY 2023-24. By January 2025, an additional 3,342 MSMEs had been registered, reflecting consistent entrepreneurial activity in the city. However, the sector has not been without challenges. The aftermath of the Covid-19 lockdowns led to the closure of several micro-units. In FY 2021-22, 21 micro enterprises were deregistered, followed by eight units (seven micro and one small) in FY 2022-23. FY 2023-24 saw 12 micro units close, while 19 more were deregistered by January 2025. Currently, Chandigarh hosts 62,477 MSME units, employing over 3.66 lakh people — more than one-fourth of the citys 12-lakh population. Despite the positive trend in registrations, the manufacturing sector continues to face hurdles. Naveen Manglani, Vice-President of the Chamber of Chandigarh Industries (CCI), noted, Most MSMEs here are focused on services and trading. The manufacturing sector is struggling, with businesses migrating to nearby cities like Mohali and Panchkula. To boost the sector, the UT administration has rolled out a 12-point development program aimed at enhancing the citys industrial landscape. This includes setting up a facilitation helpdesk, quality certifications for local units, promoting packaging and innovation hubs, and offering support for export promotion. A dedicated e-portal has also been launched to streamline MSME operations. Chandigarh is the only Union Territory whose Systematic Investment Plan (SIP) has been approved under the Centres Raising and Accelerating MSME Performance (RAMP) scheme, securing Rs 43 crore in funding. The administration is now focusing on institutional strengthening to ensure sustained growth and robust support for the MSME sector. (KNN Bureau) 41201 https://knnindia.co.in/news/newsdetails/msme/chandigarh-msme-sector-recovers-with-steady-growth-in-new-registrations-post-pandemic 2025-02-25 14:31:04 knnindia.co.in Chandigarh MSME Sector Recovers with Steady Growth in New Registrations Post-Pandemic