8.7 crore MSMEs driving economic growth, supporting livelihoods of 38 crore people: Minister
New Delhi, June 27 (IANS) India’s 8.7 crore MSMEs are driving economic growth by contributing 31 per cent of GDP, 35 per cent of manufacturing output, and nearly 45 per cent of exports, while supporting the livelihoods of 38 crore people — under the visionary leadership of Prime Minister Narendra Modi, Shobha Karandlaje, Union Minister of State for Micro, Small and Medium Enterprises, said on Saturday.
The rise in MSME bank credit from Rs 10 lakh crore in 2014 to Rs 37 lakh crore by December 2025 reflects the government’s unwavering commitment to empowering entrepreneurs. The minister said as she participated in the ‘MSME Day 2026’ celebrations here.
“Today, we launched PMEGP 2.0, MSME Samadhaan 2.0, PMS 2.0, MSME Global Mart 2.0, and the Testing Centre Portal, making access to credit, markets, and quality services easier than ever. Together, we are strengthening MSMEs and advancing the vision of Viksit Bharat 2047,” Karandlaje added.
MSME sector is considered as the engine of growth of the Indian economy, and entrepreneurs are the drivers of this growth.
“The Ministry of MSME provides digital support, skill development, technology, and marketing linkages. You, the entrepreneurs, are partners in India’s development. The MSME sector is much more than enterprises; their dreams taking shape, ideas turning into enterprises, and hard work transforming lives,” she said.
Bharat Khera, Secretary, Ministry of MSME, presented an overview of the MSME sector, highlighting its role in India’s economic growth and outlining the key initiatives and schemes being implemented by the Ministry of MSME. He complimented all the stakeholders for contribution in the MSME sector.
The Ministry launched Multilingual Access on MSME Portals, enabling a multilingual and voice-enabled ecosystem across MSME websites and portals.
The initiative provides access to MSME services in all 22 Scheduled Indian languages and includes AI-enabled voice grievance redressal and document translation facilities, thereby enhancing accessibility and digital inclusion.
–IANS
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