The 4.57 crore MSMEs registered on the Udyam portal, including the Udyam Assist Platform (UAP), stand as a testament to the sector's resilience and potential
FinTech BizNews Service
Mumbai, June 27, 2024: MSMEs will play a pivotal role in shaping India's economic future, underlines Dilip Modi, Founder & CEO of Spice Money, by indicating the potential of MSMEs: “On World MSME Day, we celebrate the indomitable spirit of our Micro, Small, and Medium Enterprises (MSMEs), the true drivers of India's economic growth. They are not just businesses; they are the heartbeat of our economy, fueling innovation, creating jobs, and fostering inclusive development.
As we strive towards the $5 trillion GDP milestone, MSMEs will play a pivotal role in shaping India's economic future. The 4.57 crore MSMEs registered on the Udyam portal, including the Udyam Assist Platform (UAP), stand as a testament to the sector's resilience and potential. These enterprises have already generated 19.5 crore jobs, with over 4.3 crore women contributing significantly to the workforce. The support of NBFCs, fintechs, and banks is and will always be crucial in ensuring that these businesses reach their full potential, and have access to the financial resources they need to grow and thrive.
Spice Money recognizes the pivotal role that MSMEs and Nanopreneurs play in driving economic growth. In line with this, we are committed to supporting them through various initiatives, such as the zero investment program, which allows rural entrepreneurs to be a part of the Spice Money Adhikari network completely free of cost. Our extensive network of 14 lakh Nanopreneurs/Adhikaris stands as a testament to our dedication to creating entrepreneurship opportunities in emerging India. To further assist these entrepreneurs, we offer tailored loan programs that provide them with the capital needed to invest in their businesses, purchase inventory, and expand their operations. Spice Money is not only supporting these entrepreneurs but also actively creating opportunities and fostering economic growth in emerging India.
Looking ahead, we are optimistic about the future of MSMEs in India. As we await the upcoming budget, we expect the government to continue its efforts in promoting entrepreneurship, skill development, and financial inclusion. With these continued efforts, we are confident that MSMEs will continue to thrive, driving innovation, creating jobs, and shaping India's economic landscape for years to come."
