Uttar Pradesh
Uttar Pradesh Among Top Three States for MSMEs
- 10 Jan 2024
- 2 min read
Why in News?
According to a report by realty consulting firm CBRE South Asia and real estate developers association CREDAI, Uttar Pradesh has emerged among the top three states as a significant contributor to the Micro, Small & Medium Enterprises (MSME) sector, with a 9% share in total registered MSMEs in the country.
- Sector-wise, the report highlighted that the construction sector, contributing approximately 8% to the GDP, is a strategic opportunity for Indian MSMEs.
Key Points
- According to the official data from the Ministry of Micro, Small and Medium Enterprises, 2.21 crore MSMEs are registered (excluding registrations via the Udyam Assist Portal) under the ministry.
- Several cities in Uttar Pradesh have emerged as MSME clusters, with Agra, Kanpur, Varanasi, Lucknow, Meerut and Ghaziabad leading in enrolling for the Udyam scheme.
- Out of which 38.09 lakh with a 17.2% share were from Maharashtra followed by 22.32 lakh with a 10% share from Tamil Nadu and 20.95 lakh with a 9.4% share from Uttar Pradesh.
- Rajasthan with 16 lakh and Gujarat with 15.96 lakh MSMEs were the other top destinations for registered units in the country.
- Collaborative efforts between the government, industry stakeholders, and financial institutions can help create a robust support system, ensuring that the MSMEs receive the necessary resources and guidance to navigate the evolving economic landscape.
Udyam Portal
- It is an online system for registering MSMEs, launched by the Union MSME ministry on 1st July, 2020.
- It is linked to the databases of the Central Board of Direct Taxes (CBDT) and Goods and Services Tax Network (GSTN).
- GSTN is a unique and intricate IT enterprise that establishes a channel of communication and interaction between taxpayers, the central and various state governments, and other stakeholders.
- It is fully online, does not require any documentation, and is a step towards Ease of Doing Business for MSMEs.
