Gujarat: Gujarat ranks fifth in the country in the MSME industry sector with 21.82 lakh enterprise registrations.

Ahmedabad: Over the last several decades, the image of Gujarat in India has emerged as a commercial state. The main reason for which is the industry friendly policies and schemes of Gujarat Government. As a result of flagship programs like Vibrant Gujarat Global Summit, many big industries have invested in Gujarat, but in the last two decades, Gujarat has also been progressing continuously in the MSME sector.

Under the strong leadership of Chief Minister Bhupendrabhai Patel and the guidance of Industry Minister Balwant Singh Rajput, today Gujarat ranks fifth in the country in the small, micro and medium industries sector and first in the startup sector. Maharashtra ranks first in the country with total registration of 50.60 lakh MSME units. Whereas, Gujarat ranks fifth in the country with enterprise registration of more than 21.82 lakh units. In the last five years, there has been an average increase of 25 percent to 30 percent every year in the registration of industrial units in Gujarat.

Apart from this, MSME units which do not have sufficient documents like GST, ITR and PAN card for enterprise registration are registered as MSME under ‘Udyam Assisted Programme’ by Small Industries Development Bank of India and other banks. Also, such industrial units are covered under Priority Sector Lending. If such industrial units are also taken into consideration, a total of more than 32.52 lakh MSME units are currently registered in Gujarat.

Out of more than 21.82 lakh MSME units registered in Gujarat, more than 20.89 lakh micro industries, more than 84 thousand small industries and more than 8,700 medium industries are included. In order to encourage the enterprising entrepreneurs of Gujarat and to make the MSME units more powerful, under the industrial policy and self-reliant scheme, the state government will provide financial assistance of Rs. 10,000 to more than 47 thousand MSME units of Gujarat till November of the year 2023-24 and 2024-25. Assistance amounting to Rs 2089 crore has been disbursed.

It is worth mentioning here that the development order of the country is determined on the basis of many indicators. Industrial development sector in India includes employment, index of industrial production, human development, energy efficiency and Gross State Domestic Product (GSDP) indicators in the production sector. Based on these parameters, Gujarat accounts for 16 percent of the country’s production, 8.6 percent of GDP and Rs. The country is in third place with a wealth of Rs 26 trillion. Apart from this, Gujarat also accounts for more than 30 percent of the total exports of the country. The state’s MSME units have contributed more than 40 percent to Gujarat’s progress.