Udyami Bharat-MSME Day 2023: Championing the Growth of MSMEs

On the occasion of International MSME Day 2023, the Ministry of Micro, Small & Medium Enterprises (MSME) organized a milestone event aptly titled 'Udyami Bharat-MSME Day'. The event was designed to celebrate, encourage, and enhance the development of MSMEs, recognized as the backbone of India's economy.

International MSME Day: Recognizing the Economic Powerhouses

Every year, 27th June is globally observed as International MSME Day, a day dedicated to acknowledging the significant contributions of Micro, Small, and Medium Enterprises (MSMEs) to the economy. Designated as such by the United Nations in April 2017, the day seeks to boost national capacities and enable the full potential of MSMEs in achieving Sustainable Development Goals.

For 2023, the theme chosen for MSME Day in India was "Future-ready MSMEs for India@100," aligning with the vision of fostering technologically adept, growth-oriented enterprises. Globally, the event was celebrated with the theme "Building a Stronger Future Together," highlighting the importance of cooperative growth.

Launch of Innovative Initiatives for MSMEs

To uplift the MSME sector further, the Union Minister for MSME announced the launch of several significant initiatives:

CHAMPIONS 2.0 Portal: This new platform aims to support and promote MSMEs by providing services like mentoring, capacity building, market access, and grievance redressal. This tool should significantly bolster MSMEs' ability to compete and succeed.

Mobile App for Geo-tagging of Cluster Projects and Technology Centers: To enhance project tracking and progress, a new mobile app for geo-tagging was launched. This tool is expected to simplify monitoring, evaluation, and reporting of ongoing projects and promote operational efficiency.

MSME Idea Hackathon 3.0 for Women Entrepreneurs: In an effort to promote women's role in entrepreneurship, 'MSME Idea Hackathon 3.0' was introduced. This initiative aims to foster innovation, encourage entrepreneurial ideas, and provide a platform for women to make their mark in the MSME sector.

Strategic MoUs Signed for MSME Development

During the event, a series of Memorandums of Understanding (MoUs) were also signed to further support and streamline the MSME sector:

Ministry of MSME and Small Industries Development Bank of India (SIDBI): An MoU was signed to create a portal for 'PM Vishwakarma KAushal Samman' (PMVIKAS) by SIDBI and to identify local traditional artisans and craftsmen for targeted interventions.

Ministry of MSME and Government e-Marketplace (GeM): The MoU aims to share Udyam Registration data with GeM to facilitate the last-mile registration of MSMEs in the Public Procurement ecosystem.

Ministry of MSME and the Industry Department, Government of Tripura: An MoU was signed to share Udyam Registration data through API, which will aid in policy-making and the targeted distribution of scheme benefits.

Ministry of MSME and Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE): The agreement aims to provide guarantee coverage to beneficiaries of the MSME sector.

National Small Industries Corporation (NSIC) and National Scheduled Castes Finance and Development Corporation (NSFDC) & National Scheduled Tribes Finance and Development Corporation (NSTFDC): An MoU was signed to support SC/ST entrepreneurs under the National SC-ST Hub and various schemes.

The Udyami Bharat-MSME Day 2023 was a transformative event for the MSME sector, demonstrating the government's unwavering support for these vital economic powerhouses. As India continues to invest in and empower its MSMEs, the sector will undoubtedly play an increasingly crucial role in shaping the nation's future economy.