Union Minister Jitan Ram Manjhi dropped eye-opening stats in Parliament: 7.83 crore MSMEs registered on Udyam Portal from 2020 to late February 2026, spawning 34.50 crore job openings. This underscores the sector’s explosive expansion despite challenges.
Answering Lok Sabha queries, he disclosed 1.37 lakh closures, attributing them to ownership transitions, no need for certificates, duplicates, or outright cessations. The government’s arsenal of schemes is countering such headwinds effectively.
From PMEGP’s subsidy-linked loans for youth and artisans to credit guarantees and cluster programs, support is comprehensive. Initiatives like MSME Champions, SRI Fund, and PM Vishwakarma are enhancing competitiveness and scale.
COVID relief via ECLGS’s Rs 5 lakh crore umbrella till March 2023 guaranteed Rs 1.13 crore for MSMEs. Per SBI research, it saved 14.6 lakh accounts, mostly micro-small, averting a collapse cascade.
Performance-based three-year tax breaks and the ambitious SRI Fund—Rs 50,000 crore total with government seed capital—provide growth equity to eligible firms. PMEGP’s inclusivity shines: 39% women beneficiaries get enhanced 35% subsidies, igniting rural-urban entrepreneurship.
As MSMEs anchor 30% of GDP and exports, these policies are fortifying India’s economic foundation, ensuring job-rich recovery and future-proofing small businesses against volatility.