The total employment provided by micro, small, and medium enterprises (MSMEs) registered on the Udyam portal has exceeded 200 million, according to recent data from the MSME Ministry. As of July 4, 46.8 million Udyam-registered MSMEs reported a total of 201.9 million jobs, marking a significant 66% increase from 121 million jobs recorded in July last year.

This figure includes 23.2 million jobs contributed by GST-exempted informal micro enterprises.  Out of the total reported jobs, approximately 45.4 million were held by women employees.  The expansion in MSME job numbers reflects the impact of policy initiatives such as the Udyam portal, launched in July 2020, which has streamlined registration processes and facilitated business growth.

The Ministry of Finance's latest economic report highlighted that MSME job creation has surged 5.3 times since the portal's inception, illustrating its pivotal role in enhancing ease of doing business and stimulating investment.  Despite these gains, challenges such as rising costs, increased competition, and cash flow constraints continue to affect Indian small businesses. A recent survey by CPA Australia revealed that 67% of Indian small businesses intend to hire new staff this year, a decrease from around 86% recorded last year. This shift highlights evolving economic dynamics and the resilience required to sustain growth amidst fluctuating market conditions.

 The MSME sector remains a cornerstone of India's economic landscape, contributing significantly to employment generation across urban and rural areas while navigating ongoing operational challenges.  

(Source: FE)