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MSMEs are the backbone of our economy

February 14, 2024


Shri Narayan Rane says MSMEs are the backbone of our economy and all possible efforts are being made to ensure that the MSMEs are duly supported

Union Minister for MSME Shri Narayan Rane said that MSMEs are the backbone of our economy and the Ministry of MSME is doing all possible efforts to ensure that the MSMEs are duly supported.

Inaugurating four Technology centres, two Extension centres in Grater Noida, Uttar Pradesh he said  these Technology Centres will go a long way in hand holding the MSMEs of the adjoining areas. He also stressed that the MSMEs should strive hard and become world class, so that India can become self reliant.

On this occasion, Minister of MSME, UP,  Shri Rakesh Sachan mentioned that in view of the vision of the Prime Minister that youths should become employment providers rather than job seekers, a number of initiatives under the leadership of Chief Minister, Shri Yogi Adityanath have been taken by the State of UP for MSMEs and the sector will be further strengthened by the policies of the State Government.


Shri Narayan Rane, inaugurated MSME Technology Centres at (i) Greater NOIDA; (ii) Kanpur (Uttar Pradesh); (iii) Baddi (Himachal Pradesh) and (iv) Imphal (Manipur) along with 2 Extension Centres at Karimnagar and Bhavanipatna (Odisha). The Technology Centres under the Ministry of MSME provides state of the art facilities for manufacturing and production, including support through high-end machinery, technology and consultancy. Development and Facilitation Office of DC (MSME) at Dehradun (Uttarakhand) and Development and Facilitation Office (Nucleus Centre) at Ladakh were also inaugurated on this occasion.

A special Scheme for Informal Micro Enterprises by Credit Guarantee Fund Trust for Micro and Small Enterprises for extending Loans upto Rs 20 Lakhs was also launched. This Scheme will provide support and opportunity for micro/nano enterprises and is aimed at moderating the credit risk perception and will prompt the lending institutions to lend to IMEs. As this initiative unfolds, it is expected to not only empower individual entrepreneurs but also create an inclusive, dynamic, and resilient economic ecosystem.

Two MoUs with India EXIM Bank were signed by the Ministry, which will benefit the MSME Exporters immensely by providing Trade and Export related information.

As the MSMEs contribute substantially to the exports of the country, this initiative will not only bring synergy, but will also create a ripple effect. Further, a number of women entrepreneurs trained under ODOP scheme of the Government of Uttar Pradesh were distributed toolkits. An Exhibition was also organized, where MSMEs from different sectors participated. A number of stalls were allocated to Incubators. Stalls of special ODOP Products from various districts of Uttar Pradesh and stalls of KVIC and COIR Board were also put up.


The PM Vishwakarma Scheme which was launched on 17.09.2023 by the Prime Minister of India will provide end to end support to the artisans & craftspeople belonging to 18 trades. As on 14.02.2024, a total of 4,40,172 applications have been registered successfully under the scheme and a significant number of registrations have been made in Uttar Pradesh. Experience Centre with respect to trades covered under the scheme was also put up to spread awareness about the Scheme.

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