Vice-President Briefed on MSME Ministry’s Key Initiatives, Highlights Sector’s Vital Economic Role

Vice-President C. P. Radhakrishnan on Thursday reviewed the major initiatives and achievements of the Ministry of Micro, Small and Medium Enterprises (MSME) during a meeting with Union MSME Minister Jitan Ram Manjhi, Minister of State Shobha Karandlaje, and senior officials at Parliament House.

During the interaction, officials briefed the Vice-President on the growing importance of the MSME sector, describing it as a highly vibrant and dynamic pillar of the Indian economy. They highlighted the sector’s crucial contribution to economic growth, employment generation, entrepreneurship development, people’s empowerment and environmental sustainability.

The Ministry outlined its efforts to promote formalization of enterprises through the Udyam Registration Portal, aimed at strengthening enterprise identity and improving ease of doing business. Key schemes supporting MSME growth were presented, including PM Vishwakarma, the Credit Guarantee Scheme, PMEGP, the MSE Cluster Development Programme, and the Public Procurement Policy for MSMEs, along with initiatives to promote women-led and SC/ST-run enterprises.

Officials also discussed the government’s focus on Khadi, Village and Coir industries, supported by credit facilitation, technological upgrades, infrastructure development, skill training and market assistance. The Ministry’s plans aligned with the national vision of Viksit Bharat were highlighted.

Appreciating the Ministry’s efforts, the Vice-President expressed satisfaction over increased budgetary support and expanding credit flows to entrepreneurs. He commended the successful rollout of PM Vishwakarma and other flagship initiatives delivering benefits across the country.

Emphasising that MSMEs are the second-largest employment provider in India, he called for continued revitalization of the sector through targeted interventions—especially infrastructure development, skill enhancement, and establishment of training institutes in economically backward regions.