Government Initiatives Propel Women-Owned MSMEs

The Union Minister of Micro, Small, and Medium Enterprises, Jitan Ram Manjhi, stated that there are over 1.84 crore women-owned MSMEs in India. The government has implemented several initiatives to increase women's participation in this sector, such as procurement policies and enhanced credit guarantee schemes.

The Union Minister of Micro, Small, and Medium Enterprises, Jitan Ram Manjhi, announced that India is home to over 1.84 crore women-owned MSMEs. The government has rolled out various initiatives aimed at increasing women's participation in this sector.

Addressing the Lok Sabha, Manjhi highlighted that 39% of MSMEs registered on the Udyam and Udyam Assist Platform since their respective launches are women-owned. Udyam was launched on July 1, 2020, and UAP on January 11, 2023.

Manjhi detailed several government measures to support women entrepreneurs. These include an amendment to the Public Procurement Policy mandating central ministries and departments to procure at least 3% of their annual requirements from women entrepreneurs and enhanced support under the credit guarantee scheme for MSMEs, providing up to 85% guarantee coverage and a 10% concession in annual guarantee fees.

(With inputs from agencies.)