Micro, small, and medium-sized businesses, usually referred to as MSMEs, are the backbone of the Indian economy, accounting for 30% of its GDP. As of 2024, Micro, Small, and Medium Enterprises (MSMEs) in India employ more than 168 million people across various sectors, including manufacturing and trading. This surpasses previous estimates of 130 million employees, making MSMEs the second-largest employer in the country after agriculture.
The MSME ministry has recognised that if India is to chart overall economic progress, the economy must expand at least 10% each year over the next ten years. In order to achieve this in practice, industries must be pushed to grow rapidly, infrastructure must be constructed to accommodate this growth, and people must be trained and made employable to keep up with the increased demand for workers.
To encourage and develop the MSME sector, the government has introduced several new initiatives, schemes, subsidies, and support systems for the MSME entrepreneurs across the country. A range of government portals has been established with the goal of offering support to the MSME sector on all fronts. Let’s explore the detailed explanations of the following government portals.
My MSME portal provides access to a number of mobile apps and helpful resources that are particular to MSMEs. For the benefit of small business owners, 27 services have been gathered on one platform for more flexible service availability and to provide every piece of necessary information for the entrepreneurs. Various My MSME android apps are available for download through Google play store.
The Ministry of MSME has taken the initiative to allow the supplier MSE unit to file an online application against the buyer of goods or services before the relevant MSEFC of his or her State/UT. Any micro or small business with a valid Udyog Aadhar (UAM) may submit an application. After reviewing the complaint submitted by the MSE unit, the State’s MSEFC will give the buyer unit instructions about the payment of the overdue sum plus interest in accordance with the MSMED Act 2006’s provisions.
To file an online application the small business owners have to register online via the MSME SAMADHAAN portal and the status of the filing can also be monitored online.
The MSME Sambandh site provides MSMEs with a wonderful opportunity to list their products and services for use by government organisations. According to the public procurement policy, at least 25% of all public agencies must purchase goods and services from MSMEs. Small business owners can visit MSME Sambandh portal to validate their company’s existence and register as a seller on the portal. MSME sambandh makes it convenient for small enterprise owners to access information about available tenders and participate in them.
CHAMPIONS which stands for Creation and Harmonious Application of Modern Processes for Increasing the Output and National Strength is the MSMEs’ single-window system. This portal supports MSMEs in terms of finances, raw supplies, labour, permits, etc. Additionally, it enables MSMEs to capitalize on fresh opportunities in the manufacturing and service industries.
A network of control rooms using a hub-and-spoke model is built as part of the system. The hub is located in the secretary’s office for MSME in New Delhi. The spokes are located throughout the states in different ministry offices and institutions. The system has so far been implemented in 66 state-level control rooms.
Kinara Capital, an RBI registered Systemically Important NBFC in India, aims at empowering the MSME sector. The gathered information above about useful Government portals for MSMEs is another initiative from Kinara to provide the small business owners with compiled knowledge to access the digital tools they need to progress in their entrepreneurial journey. Kinara also provides collateral-free MSME loans to business owners to grow their businesses.
MSME owners can check their business loan eligibility in the myKinara app in 1 minute and get a secured or unsecured business loan, which is available for download in the Google Play Store and has a provision for the customers to choose their preferred vernacular from 7 language options including, Hindi, Kannada, Gujarati, Marathi, Tamil, Telugu, and English. Kinara is serviceable in 4500+ pin codes and with its doorstep facility goes from decision to disbursement in 24 hours.
One of our prime advantages is Collateral-free Business Loans. Kinara Capital provides significant benefits to MSMEs by removing the barrier of providing assets as security. Our business loans help MSMEs by removing the need for asset-based security which enables MSMEs to access funding more easily, supporting their growth and operational needs without risking personal or business assets. By simplifying the borrowing process and offering flexible terms, Kinara Capital helps MSMEs overcome financial challenges, enhance their cash flow, and seize new opportunities for growth and development.
Government platforms provide crucial access to funding through loans, grants, and subsidies specifically designed for small businesses, helping them secure the financial support needed for growth. Additionally, government portals open up market opportunities by connecting MSMEs to tenders, e-marketplaces, and business networks, enabling them to expand their reach and customer base.
MSME registration is now simplified. Businesses can register online through the Udyam portal using only their Aadhaar number. The system automatically fetches PAN and GSTIN details. No additional documents are required. This streamlined process aims to boost ease of doing business for MSMEs and encourage more entrepreneurs to register.
Udyam Registration Portal: This platform allows MSMEs to register and obtain an Udyam Registration Certificate, providing access to various benefits and schemes.
Government e-Marketplace (GeM): A digital marketplace where MSMEs can register to sell goods and services to government departments and agencies.
MSME Samadhaan: A portal for addressing and resolving payment disputes between MSMEs and large enterprises.
MSMS Sambandh: The MSME Sambandh site provides MSMEs with a wonderful opportunity to list their products and services for use by government organisations.
CHAMPIONS Portal: CHAMPIONS stands for Creation and Harmonious Application of Modern Processes for Increasing the Output and National Strength is the MSMEs’ single-window system.
Stand Up India Portal: Supports SC/ST and women entrepreneurs in setting up greenfield enterprises, providing information on financial assistance and guidance.
National Small Industries Corporation (NSIC) Portal: Offers various support services including financing, marketing assistance, and technology upgradation for MSMEs.
MSMEs can access these portals for expanding their reach in this domain.
Government portals offer comprehensive financial support information for MSMEs, including details on loan schemes, subsidies, and grants. They provide insights into collateral-free loans, credit guarantees, tax benefits, and equity funding options. Additionally, MSMEs can find information on insurance schemes and training support, helping them access necessary resources and incentives for business growth and sustainability.
Government portals support skill development for MSMEs by offering access to a variety of training programs, workshops, and online courses that enhance business skills and technology adoption. They provide resource libraries with educational materials, guides, and best practices. These features empower MSMEs to stay competitive, adapt to industry changes, and drive their growth through enhanced skills and knowledge.
