The total number of Udyam-registered MSMEs shut down due to various reasons between April 1 and December 8 in the current financial year stood at 7,995, said Minister of State in the MSME ministry Bhanu Pratap Singh Verma citing data from the Udyam portal on Monday in a written reply to a question in the Rajya Sabha.
Moreover, the number of MSMEs recording a decline in their turnover compared to the previous financial year and which were also re-classified was 19,706. The minister was replying to a query on the number of MSMEs that got shut after Covid and also saw a decline in turnover.
Till July 20 in the current FY, the number of sealed Udyam MSMEs was 2,870.
During the same month, the government shared the consolidated data on the number of MSMEs closed over the past six years including the Covid period in the country.
No specific study has been conducted by the government on the advantages and disadvantages of foreign investment in the micro, small and medium enterprise (MSME) sector from the competitiveness and viability point of view, said minister of state for MSME Bhanu Pratap Singh Verma.