Retail and wholesale traders and Wholesalers tops the list in MSME sector
based on the number of registrations on the Udyam portal.
The data as of February 2, 2023, out of around 1.38 crore Udyam-registered
MSMEs in the top 10 categories contributed for 96.47 lakh registrations.
From retail registrations amounted to 19.7 lakh which is maximum
registrations and 12.3 lakh, second highest number of registrations,
were of wholesale traders.
This excludes dealers with motor vehicles and motorcycles, according to
the data shared by the minister of state in the MSME ministry Bhanu Pratap
Singh Verma in a written reply to a question in the Rajya Sabha recently.
Retail and wholesale traders Wholesalers reinstated under the MSME category
by the government in July 2021 are topping the table of top 10 segments
or sub- sectors in the MSME sector based on the number of registrations on
the Udyam portal.
For more information: https://smeventure.com/role-of-technology-to-scale-up-business-revenue-of-msmes/
The registrations data that was shared mainly came from food products
manufacturers (11.6 lakh), companies in land transport and transport via
pipelines (10.9 lakh), food and beverage service activities (10.2 lakh), other
personal service activities (10.1 lakh), other manufacturing activities (6.31
lakh), manufacturers of textiles (5.99 lakh), other professional, scientific and
technical activities (4.50 lakh), manufacturers of wearing apparels (4.43 lakh).
Simplified Registration
The govt. has also simplified the registration process in 2021.With only Pan
card details and Adhaar the documents required for registration bought in
huge relief for MSME’s reliving them from complicated process and lengthy
documentation.
With simplified registrations comes a huge benefit for the MSME’s in terms of
public Procurement Policy for MSMEs that mandates that every Central
Ministry/ Department/ PSUs shall set an annual target of 20% to be procured
from the MSMEs.
Do watch: https://www.youtube.com/shorts/mxmhEv0xPgM
MSME’s can get loans without collateral for their capital requirements. Further
MSMEs get easy access to GeM which is a wide online marketplace for public
procurement of goods/ services.