Modi to participate in 'Udyami Bharat' programme today

NEW DELHI: Prime Minister Narendra Modi will participate in the 'Udyami Bharat' programme at Vigyan Bhawan in New Delhi today. During the event, Prime Minister will launch the 'Raising and Accelerating MSME Performance' (RAMP) scheme, 'Capacity Building of First-Time MSME Exporters' (CBFTE) scheme and new features of the 'Prime Minister's Employment Generation Programme' (PMEGP).

PM Modi will also digitally transfer assistance to beneficiaries of PMEGP for 2022-23; announce results of MSME Idea Hackathon, 2022; distribute National MSME Awards, 2022; and issue Digital Equity Certificates to 75 MSMEs in Self Reliant India (SRI) Fund.

According to Prime Minister's Office (PMO), 'Udyami Bharat' is reflective of the continuous commitment of the government, right from day one, to work towards the empowerment of MSMEs. The government has launched several initiatives from time to time like MUDRA Yojana, Emergency Credit Line Guarantee Scheme, and Scheme of Fund for Regeneration of Traditional Industries (SFURTI) to provide necessary and timely support to the MSME sector, which has helped benefit crores of people across the country.

Prime Minister will launch the 'Raising and Accelerating MSME Performance' (RAMP) scheme, with an outlay of around Rs 6,000 crore. It aims to scale up the implementation capacity and coverage of MSMEs in the states, with impact enhancement of existing MSME schemes.

It will complement the Aatmanirbhar Bharat Abhiyan by fostering innovation, encouraging ideation, incubating new business and entrepreneurship by developing quality standards, improving practices and processes, enhancing market access, deploying technological tools and Industry 4.0 to make MSMEs competitive and self-reliant.

Prime Minister will launch the 'Capacity Building of First-Time MSME Exporters' (CBFTE) scheme, which aims to encourage MSMEs to offer products and services of international standards for the global market. This will enhance the participation of Indian MSMEs in the global value chain and help them realise their export potential.

He will also launch new features of the 'Prime Minister's Employment Generation Programme' (PMEGP). These include an increase in the maximum project cost to Rs 50 lakh (from Rs 25 lakh) for the manufacturing sector and Rs 20 lakh (from Rs 10 lakh) in the service sector and the inclusion of applicants from aspirational districts and transgenders in the Special Category applicants for availing higher subsidies.

Also, handholding support is being provided to applicants/entrepreneurs through the engagement of banking, technical and marketing experts. During the event, PM Modi will announce the results of the MSME Idea Hackathon, 2022.

Launched on March 10 this year, this Hackathon is aimed at promoting and supporting the untapped creativity of individuals, promoting adoption of latest technologies and innovation among MSMEs. The selected incubatee ideas will be provided funding support of up to Rs 15 lakhs per approved idea. Prime Minister will also distribute the National MSME Awards 2022.

The award is a recognition of the contributions of MSMEs, States/UTs, aspirational districts and banks for their outstanding performance in the growth and development of India's dynamic MSME sector, the release said.