PM Launches RAMP And CBFTE Schemes At Udyami Bharat Event

Prime Minister Narendra Modi on Thursday launched ‘Raising and Accelerating MSME Performance’ (RAMP) scheme and ‘Capacity Building of First-Time MSME Exporters’ (CBFTE) scheme during ‘Udyami Bharat’ programme.

He also launched new features of the ‘Prime Minister’s Employment Generation Programme’ (PMEGP) to ramp up the MSME sector.

Addressing the gathering, the Prime Minister said that the efforts of MSME India will be a key driver of Aatmnirbhar Bharat. He said whatever heights the 21st century India will achieve, that will be dependent on the success of the MSME sector. He emphasised that it is important for India’s MSME sector to be strong for increasing India’s exports and for India’s products to reach new markets.

“Our government is taking decisions and making new policies keeping in mind your ability and the immense potential of this sector. The initiatives launched today and other measures undertaken by the government are linked with the quality and promotion of MSME,” Modi said.

During the event he also digitally transferred assistance to beneficiaries of PMEGP for 2022-23 and announced results of the MSME Idea Hackathon, 2022.

He said that when we say MSME, it expands in technical language to Micro Small and Medium Enterprises. But these micro, small and medium enterprises are a huge pillar of India’s growth journey.

The MSME sector accounts for almost one-third of India's economy. Strengthening the MSME sector is strengthening the entire society, making everyone recipient of the benefits of development. That is why this sector is one of the highest priorities of the government, he said.

“To strengthen the MSME sector, in the last eight years, the government has increased the budget allocation for this by more than 650 per cent. For us, MSME means Maximum Support to Micro Small and Medium Enterprises”, he stressed.

Noting that more than 11 crore people are connected with the sector, he remarked that MSME is critical for employment generation. During the pandemic, the government decided to save the small enterprises and give them new strength. Under the Emergency Credit Line Guarantee Scheme, the central government has ensured INR 3.5 lakh crore for MSMEs, he said.

He recalled a time when earlier governments did not recognize the importance of the sector and shackled the sector by adopting policies that kept the small enterprise small. To address this, the definition of MSME was changed.

“If any industry wants to grow and expand, then the government is not only supporting it but is also making necessary changes in the policies. In GeM, MSME has got a very strong platform to provide goods and services to the government,” the Prime Minister added.

Background of the Programme:

‘Udyami Bharat’ is reflective of the continuous commitment of the government, right from day one, to work towards the empowerment of MSMEs. The government has launched several initiatives from time to time like MUDRA Yojana, Emergency Credit Line Guarantee Scheme, Scheme of Fund for Regeneration of Traditional Industries (SFURTI) to provide necessary and timely support to the MSME sector, which has helped benefit crores of people across the country.

New features of the ‘Prime Minister’s Employment Generation Programme’ (PMEGP) include an increase in the maximum project cost to INR 50 lakhs (from INR 25 lakhs) for the manufacturing sector and INR 20 lakhs (from INR 10 lakhs) in the service sector and inclusion of applicants from Aspirational districts and Transgenders in the Special Category applicants for availing higher subsidies. Also, handholding support is being provided to applicants/entrepreneurs through the engagement of banking, technical & marketing experts.

MSME Idea Hackathon, 2022 was aimed at promoting and supporting the untapped creativity of individuals, promoting the adoption of the latest technologies and innovation among MSMEs. The selected incubatee ideas will be provided funding support of up to INR 15 lakhs per approved idea.

National MSME Awards 2022 is a recognition of the contributions of MSMEs, States and UTs, Aspirational Districts and Banks for their outstanding performance in the growth and development of India’s dynamic MSME sector.