Punjab MSMEs Highest registrations in North India

Last Updated: 03 Mar 2024

Highest number of new MSME registrations in Punjab among North India as announced on 8 Aug 2023[1]

Punjab Cabinet gave nod to set up a dedicated wing for MSMEs in Punjab on 22 Feb 2024
-- Groundbreaking initiative to invigorate the MSME sector[2]

New MSME Registrations[1:1]

  • Union Minister of MSMEs, Narayan Rane, informed Rajya Sabha on 7th Aug 2023 that 2.69+ lakh MSMEs (Micro, Small and Medium Enterprises) registered in Punjab in FY 2023
Punjab Number of Registrations in FY 2023
Micro 2,65,898
Small 3,888
Medium 177

New MSME Wing in Punjab[2:1]

  • Cabinet nod to "MSME wing" - groundbreaking initiative to invigorate the MSME sector
    • MSME wing to sit within the Department of Industries and Commerce
  • Core mission to bolster competitiveness of MSMEs
  • Dedicated sub-divisions such as
    • Finance or Credit: Will ensure a seamless flow of credit from financial institutions and banks to MSMEs
    • Technology:
      • To provide support in embracing cutting-edge technologies and modernizing operational frameworks
      • Mandate includes the establishment of common facilities centers, particularly in the domains of modern testing facilities and quality certification
    • Market: Will ensure better marketing of their product
    • Skills: Will forge strategic collaborations with professional agencies, harnessing their specialized expertise to enrich the support services offered to stakeholders

REFERENCES:

  1. https://timesofindia.indiatimes.com/city/chandigarh/pb-tops-msme-registration-in-north-rajya-sabha-told/articleshow/102518748.cms ↩︎ ↩︎

  2. https://www.dailypioneer.com/2024/state-editions/punjab-govt-to-set-up-msme-wing--doubles-honorarium-for-war-heroes----widows.html ↩︎ ↩︎