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The Parliamentary Standing Committee on Industry, led by Chairperson Tiruchi Siva, held a meeting in New Delhi on Wednesday to deliberate on the enhancement of support mechanisms for traditional and labour-intensive Micro, Small and Medium Enterprises (MSMEs) sectors.
DMK Rajya Sabha MP Tiruchi Siva emphasised the vital role of MSMEs in boosting India's exports and employment generation following a high-level meeting with ministry officials. Siva said, "The members gave their views and suggestions. We see a substantial improvement in the working of the MSMEs. MSMEs contribute to the generation of employment and have a contribution of 48.5 per cent to the exports. We are taking up different subjects." The DMK leader further highlighted India's recent trade agreements and their influence on the country's manufacturing and export sectors. "We are assessing their impact as well," he added. According to the government, the MSMEs contribute about 31.1 per cent to India's GDP, account for 48.58 per cent of total exports, and generate around 35.4 per cent of manufacturing output. The sector encompasses more than 7.47 crore enterprises across manufacturing, services, and trade activities. It provides livelihoods to approximately 32.8 crore people, making it the second-largest source of employment after agriculture. A large share of these enterprises operates in rural and semi-urban areas. They support local value chains, promote non-farm employment, and contribute to regional economic development. Given their importance, strengthening MSMEs in rural and semi-urban areas is critical. This helps promote inclusive growth, improve productivity, and integrate small enterprises into national and global supply chains. Many of the MSMEs exist as unregistered and informal enterprises. It is necessary to formalise them so that they can avail credit and other support being extended to the sector. In recent years, formalisation has accelerated through digital registration platforms. As of March 2026, over 7.9 crore MSMEs and informal micro enterprises have been registered through Udyam and Udyam Assist Platforms. This reflects the expanding reach of institutional support mechanisms for small businesses. (ANI)
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