MSME India

PM Vision For MSMEs

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. MSME sector accounts for almost one-third of India’s economy,” PM Modi said.The prime minister further said that for orders up to ₹200 crores, no global tender will be undertaken.

“It is our government’s decision not to do global tender in government procurement up to ₹200 crores. In this, your reservation is in a way. You have to show by doing something that the government has to ban the global tender in government procurement up to ₹500 crores, he said.

The RAMP scheme has outlay of around ₹6,000 crore, PMO statement had said. Th scheme aims to scale up the implementation capacity and coverage of MSMEs in the states, with impact enhancement of existing MSME schemes. It will complement the Aatmanirbhar Bharat Abhiyan by fostering innovation, encouraging ideation, incubating new business and entrepreneurship by developing quality standards, improving practices and processes, enhancing market access, deploying technological tools and Industry 4.0 to make MSMEs competitive and self-reliant.

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