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MSME Secretary BB Swain launches dedicated portal for small businesses FE ASPIRE

The biggest ambition of the Ministry of Small and Medium Enterprises is to identify the micro small and medium entrepreneurs and bring them under formal structure, BB Swain, Secretary, Ministry of Micro, Small and Medium Enterprises said at the MSME Business Conclave by the Financial express.

B B Swain at MSME Business Conclave


MSME Business Conclave: BB Swain, Secretary, MSME launches ASPIRE, says coordinated efforts of all the stakeholders have helped recover with a projected growth rate higher than ever

The biggest ambition of the Ministry of Small and Medium Enterprises is to identify the micro small and medium entrepreneurs and bring them under formal structure, BB Swain, Secretary, Ministry of Micro, Small and Medium Enterprises said at the MSME Business Conclave by the Financial Express.

He also added that although last year was full of challenges, coordinated efforts of all stakeholders have made it possible to take on the pandemic crisis. Both fiscal and monetary measures have been taken to get back on the growth trajectory of the economy in general and MSME’s in particular.

Talking about the success of the UDYAM portal, he said that more 9.3 million MSMEs have registered under UDYAM and will soon reach 10 million.

Swain informed that the self-reliant Indian fund is operational and 22 daughter funds have been given funding. The first 75 MSMEs have equity participation. The fund, he hopes, will go a long way in helping the MSME sector in equity participation. Although ‘delayed payment’ is still an issue, he pointed out. Performance of the credit guarantee scheme has achieved a milestone of being highest in a year so far.

The actual achievement of Public procurement policy for MSME’s in 2021-23 is 35 per cent. Over the last few years, more and more enterprises are coming from which CPSESs are buying, Swain informed.

The role of the central government is to provide an enabling environment for entrepreneurs, he added.

Swain also launched the teaser for the upcoming new portal by the Financial Express dedicated to MSME sectors, Aspire.

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