1,590 MSMEs Shut Operations in Region Since July 2020

Chandigarh: As many as 1,590 micro, small and medium enterprises (MSMEs) had to shut their operations in the region in the last three and a half years. These include 1,081 such enterprises in Haryana, 340 in Punjab, 128 in Himachal Pradesh and 41 in Chandigarh, revealed the data shared by Union minister of state for MSMEs Bhanu Pratap Singh Verma in the Rajya Sabha on Monday.

There are a total of 32,385 MSMEs across the country which have cancelled their registration on the Udyam portal due to closure of their businesses from July 1, 2020, to December 11, 2023. Maximum 3,066 MSMEs had to shut their operations in Maharashtra this year, followed by 1,740 in Tamil Nadu and 1,218 in Gujarat. Haryana witnessed closure of 510 MSMEs in 2023, Punjab 44, Himachal Pradesh 31 and Chandigarh 11.

As per the information shared by the Union minister of state in response to a question, MSMEs were able to provide jobs to 10.03 lakh people in Haryana this year, 9.51 lakh in Punjab, 2.26 lakh in Himachal Pradesh and 40,443 in the UT. The total employment recorded on the Udyam registration portal since its inception in July 2020 till December this year is 14.35 crore.

Out of over 2.13 crore MSMEs in the country registered on the Udyam portal since July 1, 2020, 8.01 lakh were from Punjab, 7.14 lakh from Haryana, 1.24 lakh from Himachal Pradesh and 33,804 from Chandigarh.

Amongst the 1.18 crore women-owned MSMEs in the country, Punjab had the highest number of 2.37 lakh such enterprises in the region followed by 2.04 lakh in Haryana, 25,656 in the hill state of Himachal Pradesh and 7,561 in the UT of Chandigarh.

The Rajya Sabha was informed that as reported by National Credit Guarantee Trustee Company Limited under Emergency Credit Line Guarantee Scheme, guarantees amounting to Rs 3.68 lakh crore has been extended to 1.19 crore MSME borrowers in the country. This scheme was in operation till March 31 this year. Also, as per Credit Guarantee Trust Fund for Micro and Small Enterprises, under the Credit Guarantee Scheme for Subordinate Debt for Stressed MSMEs, Rs 96.80 crore has been extended to 803 accounts till March 31 this year. Similarly, as per the NSIC Venture Capital Limited, under Self Reliant India Fund, total investment in MSMEs is Rs 6,448 crore as on November 30 this year, said the minister.

Verma also informed that 59 export facilitation centres set up by the ministry across the country in its field offices were providing hand-holding support to MSMEs for export promotion.

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