Gujarat Ranks 5th in Udyam MSME Registrations in India

23 Aug 2024 CW Team

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.

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