Micro, Small, and Medium Enterprises are the nation-building sectors. In 2021, the MSME sector contributes 29% to the national GDP. Also, the MSME sector in Kerala employs more than 1.8 lakh people. In this article we will discuss on number of MSMEs in Kerala is doubled in the last five years.
Notification by MSME
Principal secretary, department of industries, APM Mohammed Hanish, said,” The number of MSMEs in Kerala is doubled in the last five years. MSMEs are free and capable of selling their products. The Kerala management association gave this freedom.”
He said, “States including Kerala have started nursing licenses. MSME’s business launching process to be simplified within six months. The government facilitates this.”
A facility of monitoring mechanism has been set. It will evaluate projects and meetings. It initiates for a better and speedy working atmosphere.
MSMEs contributions to the government
- Increased startups boosted the economy.
- This initiated youth to think innovatively.
- Promoted upcoming generation towards entrepreneurship.
New schemes launched for MSMEs
❖ Atmanirbhar package
- To make entrepreneurs responsible and creative.
- Increase entrepreneurship in the state.
❖ Mudra Loan
- To facilitate the economically weaker section. • To aid entrepreneurs financially.
❖ Addition of e-commerce to MSMEs
- To provide better rates to MSMEs.
- To make people aware of the Internet facilities.
How to register in MSME’s new schemes?
Joint director of MSME development institute GS Prakash said, “MSME registration could be done online through Udyam.”
He added, “Unregistered MSMEs can re-register till December 31. Every innovative mind is warmly welcome.”
Points to remember during MSME registration
- Entrepreneurs should use all government’s remarked facilities.
- A huge market with 52651 buyers and 4046551 products.
- E-market is more profitable for MSMEs to sell their goods.
- SIDBI’s plans are available for this sector. • 3 consecutive workshops have been organized for MSMEs. APM inaugurates it
Mohammed Hanish. The Kerala management association conducts it.
- Delays are common in e-commerce. Try to be smart and secure.
- Use trade receivables discounting system. It will overcome the above problem.
- Minister P Rajeev said, “The second package for MSMEs will be launched soon. It is under Kerala State Industrial Development Corporation (KSIDC).
- They would be providing loans at 5 percent interest. Along with this, an additional three-month waiver on repayments. It is only after the existing moratorium ends.
Further, “The MSME Ministry launches grievance redressal portal. Entrepreneurs can lodge complaints against state and central banks and governments.”
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