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

¶ 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 ↩︎ ↩︎