Gujarat Ranks 5th in Udyam MSME Registrations in India
ECONOMY & POLICY

Gujarat Ranks 5th in Udyam MSME Registrations in India

Gujarat has secured the fifth position in Udyam MSME registrations across India, reflecting the state's growing emphasis on entrepreneurship and small business development. With over 1.28 million micro, small, and medium enterprises (MSMEs) registered under the Udyam portal, Gujarat trails Maharashtra, Tamil Nadu, Uttar Pradesh, and Rajasthan, which occupy the top four spots.

According to official data, Gujarat's robust industrial ecosystem, policy support, and business-friendly environment have contributed to the state's strong MSME growth. The state government has introduced various schemes and initiatives aimed at fostering entrepreneurship, providing financial assistance, and offering technical support to MSMEs.

Experts attribute this surge in registrations to the increasing awareness among entrepreneurs about the benefits of formalising their businesses under the Udyam scheme, which includes access to credit, subsidies, and government procurement opportunities. Additionally, digital initiatives and ease of registration have further simplified the process for MSMEs.

The MSME sector in Gujarat plays a critical role in job creation and contributes significantly to the state's economic output. With continued focus on promoting small businesses, Gujarat is expected to climb higher in the national rankings, further strengthening its position as a hub for entrepreneurship and innovation in India.

The 14th RAHSTA Expo, part of the India Construction Festival, will be held on October 9 and 10, 2024, at the Jio Convention Centre in Mumbai. For more details, visit: https://rahstaexpo.com

Gujarat has secured the fifth position in Udyam MSME registrations across India, reflecting the state's growing emphasis on entrepreneurship and small business development. With over 1.28 million micro, small, and medium enterprises (MSMEs) registered under the Udyam portal, Gujarat trails Maharashtra, Tamil Nadu, Uttar Pradesh, and Rajasthan, which occupy the top four spots. According to official data, Gujarat's robust industrial ecosystem, policy support, and business-friendly environment have contributed to the state's strong MSME growth. The state government has introduced various schemes and initiatives aimed at fostering entrepreneurship, providing financial assistance, and offering technical support to MSMEs. Experts attribute this surge in registrations to the increasing awareness among entrepreneurs about the benefits of formalising their businesses under the Udyam scheme, which includes access to credit, subsidies, and government procurement opportunities. Additionally, digital initiatives and ease of registration have further simplified the process for MSMEs. The MSME sector in Gujarat plays a critical role in job creation and contributes significantly to the state's economic output. With continued focus on promoting small businesses, Gujarat is expected to climb higher in the national rankings, further strengthening its position as a hub for entrepreneurship and innovation in India.

Next Story
Infrastructure Urban

Govt approves NPCIL-NTPC JV company ASHVINI to start nuclear power generation

The Government on September 11, 2024 accorded approval to the Anushakti Vidhyut Nigam Ltd. (ASHVINI), a Joint Venture (JV) of Nuclear Power Corporation of India Limited – NPCIL (51%) and NTPC Ltd. (49%) to build, own & operate nuclear power plants in India in accordance with provisions of the Atomic Energy Act. Additionally Govt. of India has approved transfer of Mahi Banswara Rajasthan Atomic Power Project (MBRAPP) 4x700 MWe based on indigenous PHWR technology, from NPCIL to the JV Company ASHVINI. The Govt has also approved exemption to NPCIL to invest more than Rs 5 billion and exemptio..

Next Story
Infrastructure Urban

CRC Group partners with Dubai’s Killa Design for luxury Noida project

Noida-based real estate developer CRC Group has teamed up with renowned Dubai architect Shaun Killa to design an ultra-luxury residential project in Greater Noida. Shaun Killa, known for iconic structures such as Dubai's Museum of the Future and the Bahrain World Trade Centre, brings his expertise in sustainability and innovation to the collaboration. Killa expressed excitement about the partnership, stating, "Our goal is to create a design that stands the test of time, respects the environment, and complements the culture of the region." The project, set to feature between 375 to 400 luxury u..

Next Story
Infrastructure Urban

Nexus Venture sells stake in India Shelter Finance for Rs 4.82 billion

Venture capital firm Nexus Venture Partners divested a 5.97% stake in India Shelter Finance Corporation for Rs 4.82 billion through open market transactions. India Shelter Finance, based in Gurugram, caters to first-time home loan buyers in Tier-II and Tier-III cities, focusing on the low- and middle-income segments. Nexus, via its affiliates Nexus Ventures III and Nexus Opportunity Fund II Ltd, sold 6.4 million shares in two bulk deals on the BSE, priced between Rs 752.35 and Rs 753.27 per share, resulting in a total deal value of Rs 4.81 billion. This transaction reduced Nexus' stake in the ..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000