PM Modi Celebrates 10 Years of MUDRA Yojana, Highlights Success Stories of Entrepreneurs

The Prime Minister’s address highlighted various success stories, underscoring the broad reach and importance of the Mudra Yojana, which has catalyzed self-employment, particularly among women and marginalized groups.

On the occasion of the 10th anniversary of the Pradhan Mantri Mudra Yojana (PMMY), Prime Minister Shri Narendra Modi interacted with several beneficiaries of the scheme at 7, Lok Kalyan Marg, New Delhi. The event was a celebration of the transformative impact that the scheme has had on millions of entrepreneurs across the country, empowering them to achieve financial independence and contribute to the economy. The Prime Minister’s address highlighted various success stories, underscoring the broad reach and importance of the Mudra Yojana, which has catalyzed self-employment, particularly among women and marginalized groups.

During the interaction, Prime Minister Modi extended his heartfelt gratitude to all attendees, welcoming their experiences and emphasizing the importance of recognizing the support they received during difficult times. He invited beneficiaries to share their success stories, showcasing how the Mudra Yojana had empowered them to break barriers and start their own businesses. He spoke about the significance of acknowledging the people who supported these entrepreneurs, particularly bank officials who approved loans. Modi encouraged the beneficiaries to invite these officials and demonstrate how their support had helped these businesses thrive, thus motivating them to continue trusting in the potential of individuals who dared to dream big.

A major highlight of the event was the story of Shri Gopi Krishna from Kerala, an entrepreneur who successfully transitioned from a job in Dubai to running a renewable energy business in India. Krishna’s story was an inspiring testament to the power of the Mudra Yojana. He shared that he had used the Mudra Loan to start a business providing solar energy solutions under the PM Surya Ghar initiative, a government program aimed at providing affordable solar power to households. Krishna spoke about the significant reduction in electricity bills for his customers, highlighting how households in Kerala were now able to enjoy free electricity, even in challenging conditions like heavy rainfall and dense tree cover. His own earnings had risen dramatically, from ₹3,000 to over ₹2.5 lakh monthly, thanks to the opportunities provided by the Mudra Yojana.

The Prime Minister also interacted with a woman entrepreneur from Raipur, Chhattisgarh, who shared her inspiring journey from running a home-based food business to launching a successful café. She emphasized the importance of research, profit margin analysis, and food cost management in ensuring the sustainability of her business. Reflecting on the fear many young people have about entrepreneurship, she urged the youth to explore opportunities like the Mudra Loan, which offers collateral-free funding to those with potential. Modi praised her for her courage to take risks and encouraged the youth to follow in her footsteps, noting that the sky has no limits for those willing to put in the effort.

Another remarkable story came from Shri Mudassir Naqshbandi, the owner of Bake My Cake in Baramulla, Kashmir. Mudassir shared his journey from being a job seeker to a job creator, employing 42 individuals from remote areas of Baramulla. Before receiving the Mudra Loan, he had modest earnings, but his entrepreneurial journey allowed him to scale his business to new heights. His business now uses UPI for 90% of transactions, illustrating the digital shift taking place in the country.

Shri Suresh, an entrepreneur from Silvassa, shared how he had transitioned from a job in Vapi to becoming a successful business owner in 2022. He expressed that the success of his business had inspired some of his friends to consider taking the same entrepreneurial path. Modi emphasized that such success stories were essential in motivating others to take bold steps and create their own ventures.

A woman entrepreneur from Raebareli shared how the ease of obtaining licenses and loans had helped her set up a bakery business, with a turnover of ₹2.5 lakh to ₹3 lakh per month and providing employment to seven to eight people. The Prime Minister acknowledged her achievements and praised her for running a successful business despite the initial challenges.

Shri Lavkush Mehra from Bhopal shared his success story of expanding his pharmaceutical business, initially started with a ₹5 lakh loan, to a ₹50 lakh turnover, with a monthly income of over ₹1.5 lakh. Modi celebrated his achievements, particularly noting that the Mudra Yojana is open to all youth and empowers them to become self-sufficient entrepreneurs.

A 21-year-old entrepreneur from Bhavnagar, Gujarat, who utilized a ₹2 lakh Mudra Loan under the Kishor category, spoke about starting a 3D printing and robotics business while still in college. The Prime Minister lauded his dedication and hard work, managing to balance college with running a successful business.

The story of another woman entrepreneur from Manali, who started with a ₹2.5 lakh Mudra Loan in 2015-16 and gradually expanded her business to achieve an annual income of ₹10 to ₹15 lakh, was another shining example of success. She now runs a ration shop in addition to her vegetable business, employing others and contributing to the local economy.

Another inspiring story came from Andhra Pradesh, where a woman entrepreneur, after receiving training at the Rural Self Employment Training Institute, started a jute bag business with a ₹2 lakh Mudra Loan. Her excellent loan repayment history led to a further ₹9.5 lakh loan, allowing her to scale up her business and create jobs for rural women. Prime Minister Modi recognized her dual role as an entrepreneur and a trainer, empowering other women in her community.

Smt. Poonam Kumari, from Bihar, shared her story of overcoming extreme financial hardships and starting a business in seeds, with the support of an ₹8 lakh Mudra Loan. Her journey has been a testament to the transformative impact of the Mudra Yojana, which allowed her to become self-reliant, with a monthly income of ₹60,000.

Throughout the event, Prime Minister Modi reiterated the positive impact of the Mudra Yojana, emphasizing that the scheme has empowered individuals, particularly women, to start businesses without requiring collateral or extensive documentation. He highlighted that the Mudra Yojana has disbursed ₹33 lakh crore to millions of Indians, enabling them to achieve financial independence and contribute to national growth.

The Prime Minister also stressed the discipline that the scheme instills in beneficiaries, noting that the responsible use of Mudra loans has led to increased employment, better living standards, and educational investments. The widespread success of the scheme, Modi observed, was an example of how financial inclusion and entrepreneurship can drive economic growth and improve lives.

Reflecting on the evolution of the scheme, Modi highlighted that the Mudra loan limits have expanded from ₹50,000 to ₹20 lakh, a clear indication of the government's growing confidence in the entrepreneurial spirit of India's citizens. He also urged individuals to inspire others by encouraging at least five to ten people to leverage the scheme, further spreading the spirit of self-reliance.

Prime Minister Modi concluded his address by recalling his tenure in Gujarat, where motivational street plays and success stories encouraged people to overcome poverty and embrace entrepreneurship. He expressed his unwavering belief in the Mudra Yojana as a catalyst for change and a tool for nation-building, urging beneficiaries to give back to society by sharing their success stories and inspiring others to follow their lead.

The Union Minister of State for Finance, Shri Pankaj Chaudhary, was also present during the interaction.