21,645 people employed under MSME sector in 5 years

Our Reporter
Dimapur, March 21 (EMN): Nagaland has employed a total of 21,645 people in Micro, Small, and Medium Enterprises (MSME) registered on the Ministry’s Udyam portal (2017 to 2022) during the last five years.

According to a report issued by the Ministry of Micro, Small, and Medium Enterprises (MSME), Nagaland has seen an increase in MSME employment over the last five years.

In 2017-18, the state employed 2091 people, and it showed a similar trend of employment in 2018-2019 with 2135 people, while in 2020-21 it jumped to 5103 and in 2021-2022 it tripled to 8866 when compared to 2017-18.

This was informed by the Minister of State for Micro Small and Medium Enterprises, Bhanu Pratap Singh Verma in a written reply to the Rajya Sabha on March 14.

As per the information received from Ministry of Statistics and Programme Implementation, share of MSME Gross Value Added (GVA) in all India GDP at current prices for the year 2019-20 was 30%.

The Ministry of Micro, Small and Medium Enterprises also informed that it has implemented various schemes to increase employment opportunities of the MSME sector in the country.

This includes Prime Minister Employment Generation Programme (PMEGP), Micro and Small Enterprises-Cluster Development Programme (MSE-CDP), Scheme of Fund for Regeneration of Traditional Industries (SFURTI), Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) and A Scheme for Promoting Innovation, Rural Industry and Entrepreneurship (Aspire).

The minister also stated that the government has taken a number of initiatives under Atma Nirbhar Bharat Abhiyan to support the MSME sector in the country especially in the Covid-19 pandemic. Some of them were INR 20,000 crore subordinate bebt for MSMEs, INR 3 lakh crore collateral free automatic loans for business, including MSMEs (existing overall guarantee limit under ECGLS has been enhanced from INR 4.5 lakh crore to INR 5 lakh crore).