New Delhi, July 10 (KNN) In a major initiative to streamline access to information for Micro, Small and Medium Enterprises (MSMEs), the Union Government is developing a comprehensive web portal called ‘Udyami Bharat’.

The initiative aims to provide a one-stop platform to entrepreneurs for details of all MSME-related schemes in various ministries.

A senior government official on condition of anonymity revealed that the Ministry of MSME is spearheading the project with an investment of Rs 130 crore.

The portal will allow entrepreneurs to access relevant information by simply entering their Entrepreneur Registration Number.

The government has partnered with technology company Nexi for this ambitious project. The first phase is scheduled to begin by September 2024, during which the MSME ministry will integrate its schemes through Application Programming Interfaces (APIs).

After the launch, a dedicated team of 15 professionals will manage the project, which will be hosted on the National Informatics Center (NIC) cloud.

This development comes at an important time for India’s MSME sector. As of December 2023, there were more than 30 million MSMEs registered in the country, with the services sector accounting for the largest share.

MSMEs play an important role in India’s economy, contributing about 29 percent of the country’s gross value added and 45 percent of its exports.

It is hoped that the ‘Udyami Bharat’ portal will greatly benefit the MSME sector, which is divided into three categories based on investment and business. Micro-enterprises are defined as investments up to Rs 1 crore and turnover up to Rs 5 crore.

Small enterprises are those with capital up to Rs 10 crore and turnover up to Rs 50 crore. Medium enterprises are classified as investments up to Rs 50 crore and turnover up to Rs 250 crore.

The move follows the recent launch of a web portal by the Ministry of Agriculture for speedy bank settlement of interest subsidy claims under the Agriculture Infrastructure Fund (AIF), a move towards digital solutions in government services. indicates the

The MSME ministry has not yet responded to requests for comment on the development. As the project progresses, it is expected to provide much-needed support to India’s vast MSME sector, which is critical to employment generation and economic growth.

(KNN Bureau)

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