Total Employment In MSMEs Crosses 20.2 Crore Mark, Up 66%

Total Employment In MSMEs Crosses 20.2 Crore Mark, Up 66%

The number of workers employed with registered MSMEs has shot up by 66 per cent from the corresponding figure of 12.1 crore jobs in July last year.

IANSUpdated: Friday, July 05, 2024, 12:45 PM IST
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Total Employment In MSMEs Crosses 20.2 Crore Mark, Up 66% | Representative Image

The total employment reported by the country's micro, small and medium enterprises (MSMEs) has crossed the 20.2 crore mark, as per data from MSME Ministry's Udyam registration portal.

Women in the Workforce: 4.54 Crore Women Staffers

The number of workers employed with registered MSMEs has shot up by 66 per cent from the corresponding figure of 12.1 crore jobs in July last year.

There are 4.54 crore women staffers among the total number of workers employed in these enterprises. There are currently 4.68 crore MSMEs registered with Udyam of which 4.6 crore are micro enterprises which account for the bulk of the employment as well.

A micro-enterprise is one in which the investment in plant and machinery or equipment does not exceed one crore Rupees and turnover does not exceed five crore rupees.

Fivefold Increase in Employment Since Udyam Portal Launch

The Finance Ministry had in a monthly economic report earlier this year also highlighted the fact that number of workers employed in MSME sector has increased 5.3 times since the launch of the Udyam portal by the government in July 2020.

The government has simplified the registration process for these enterprises and also made the definition of each category clear so that they can avail of incentives under various schemes to promote employment and incomes.

A small enterprise, is defined as one in which the investment in plant and machinery or equipment does not exceed ten crore rupees and turnover does not exceed fifty crore rupees; and A medium enterprise is defined as one in which the investment in plant and machinery or equipment does not exceed fifty crore rupees and the turnover does not exceed two hundred and fifty crore rupees.

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