Total employment in MSMEs crosses 20.2 crore mark, up 66 pc

by IANS |

Total employment in MSMEs crosses 20.2 crore mark, up 66 pc New Delhi, July 5 (IANS) The total employment reported by the country’s micro, small and medium enterprises (MSMEs) has crossed the 20.2 crore mark, as per data from MSME Ministry’s Udyam registration portal. The number of workers employed with registered MSMEs has shot up by 66 per cent from the corresponding figure of 12.1 crore jobs in July last year. There are 4.54 crore women staffers among the total number of workers employed in these enterprises. There are currently 4.68 crore MSMEs registered with Udyam of which 4.6 crore are micro enterprises which account for the bulk of the employment as well. A micro-enterprise is one in which the investment in plant and machinery or equipment does not exceed one crore Rupees and turnover does not exceed five crore rupees. The Finance Ministry had in a monthly economic report earlier this year also highlighted the fact that number of workers employed in MSME sector has increased 5.3 times since the launch of the Udyam portal by the government in July 2020. The government has simplified the registration process for these enterprises and also made the definition of each category clear so that they can avail of incentives under various schemes to promote employment and incomes. A small enterprise, is defined as one in which the investment in plant and machinery or equipment does not exceed ten crore rupees and turnover does not exceed fifty crore rupees; and A medium enterprise is defined as one in which the investment in plant and machinery or equipment does not exceed fifty crore rupees and the turnover does not exceed two hundred and fifty crore rupees. --IANS sps/kvd

Latest News
Justin Trudeau's praise for Diljit as 'guy from Punjab' earns rebuke from BJP Mon, Jul 15, 2024, 05:07 PM
Six killed, two seriously injured in crash in eastern Myanmar Mon, Jul 15, 2024, 05:05 PM
Hayley Matthews rejoins Melbourne Renegades ahead of WBBL season 10 Mon, Jul 15, 2024, 04:42 PM
Apple's India sales hit new high in FY24 amid increased manufacturing, premiumisation trend Mon, Jul 15, 2024, 04:36 PM
Stock markets continue upward trajectory, Nifty touches fresh all-time high Mon, Jul 15, 2024, 04:32 PM
South Korea discusses ways to bolster bilateral ties with New Zealand Mon, Jul 15, 2024, 04:30 PM
Oli thanks PM Modi, vows to take India-Nepal ties to new heights Mon, Jul 15, 2024, 04:29 PM
Calcutta HC adjourns hearing in defamation suit filed by Guv against CM Mon, Jul 15, 2024, 04:28 PM
Filmmaker Nallamuthu advocates for an Indian wildlife channel Mon, Jul 15, 2024, 04:28 PM
SC refuses to quash DA case against Karnataka Deputy CM Shivakumar Mon, Jul 15, 2024, 03:50 PM
Study shows late detection of cancer is a major concern Mon, Jul 15, 2024, 03:47 PM
24X7 coordinated patrolling by Indo-Bangla border forces to curb crimes, infiltration Mon, Jul 15, 2024, 03:46 PM
Sridhar Vembu on developing talent, addressing 'power imbalance' at Indian workplaces Mon, Jul 15, 2024, 03:45 PM
Delhi court extends Manish Sisodia's judicial custody till July 22 Mon, Jul 15, 2024, 03:41 PM
Yemen's Houthis claim attacks on Israeli ship, city Mon, Jul 15, 2024, 03:22 PM