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Prime Minister Narendra Modi to participate in Udyami Bharat programme at Vigyan Bhawan, New Delhi

Published By : Admin | June 28, 2022 | 19:44 IST
PM to launch key initiatives to ramp up the MSME sector
PM to launch ‘Raising and Accelerating MSME Performance’ (RAMP) scheme, ‘Capacity Building of First Time Exporters’ (CBFTE) scheme and new features of ‘Prime Minister’s Employment Generation Programme’ (PMEGP)
PM to digitally transfer assistance to beneficiaries of PMEGP
PM to announce results of MSME Idea Hackathon, 2022 and also distribute National MSME Awards, 2022

Prime Minister Shri Narendra Modi will participate in the ‘Udyami Bharat’ programme at Vigyan Bhawan in New Delhi on 30th June, 2022 at around 10:30 AM. 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). Prime Minister 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 the Self Reliant India (SRI) Fund.

‘Udyami Bharat’ is reflective of the continuous commitment of the government, right from day one, to work towards empowerment of MSMEs. Government has launched several initiatives from time to time like MUDRA Yojana, Emergency Credit Line Guarantee Scheme, Scheme of Fund for Regeneration of Traditional Industries (SFURTI) etc. 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 6000 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.

Prime Minister will also launch new features of the ‘Prime Minister’s Employment Generation Programme’ (PMEGP). These include increase in the maximum project cost to Rs 50 lakhs (from Rs 25 lakhs) for manufacturing sector and Rs 20 lakhs (from Rs 10 lakhs) in the service sector and inclusion of applicants from Aspirational districts & Transgenders in the Special Category applicants for availing higher subsidies. Also, handholding support is being provided to applicants/entrepreneurs through engagement of banking, technical & marketing experts.

During the event the PM will announce the results of the MSME Idea Hackathon, 2022. Launched on 10th March, 2022, 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.

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The World This Week On India
December 31, 2024

India has been under the international spotlight this week, with significant developments in diplomacy, economic growth, technological advancement, and cultural recognition. From pivotal diplomatic visits to groundbreaking achievements in defense and technology, India’s story has been one of progress and influence on the world stage.

Diplomatic Triumphs

One of the focal points of this week was the achievements of PM Narendra Modi’s visit to Kuwait on Dec 21-22, the first bilateral prime ministerial visit to the Gulf nation in 43 years.
The world sees the visit PM Narendra Modi’s strategic move to strengthen ties in a region undergoing significant transitions. It not only closes a crucial gap in India’s diplomacy with the Gulf but also signals the nation’s proactive stance in navigating the complex geopolitics of West Asia.

Economic and Technological Advances

  • In the realm of finance and technology, India has made headlines by surpassing China to top the Asian IPO rankings. According to data from Dealogic for 2024, India is poised to become the world’s second-largest equity fundraising market, a testament to the robust investor confidence in the Indian market. This achievement reflects India’s economic resilience and growth potential.
  • India has also taken significant steps towards semiconductor self-reliance. The initiation of construction for semiconductor fabrication and packaging units marks a promising start in the nation’s quest to carve a niche in the global semiconductor industry. Read more about this here.
  • Additionally, India’s maritime sector is set for a transformation, with an investment of $10 billion over the next 25 years to make India one of the world’s top shipbuilding nations. This development not only aims at bolstering India’s maritime capabilities but also positions it as a key player in the global maritime industry.

Defense and Strategic Developments

  • India’s strides in defense technology have also been a topic of global conversation. The successful test of a hypersonic missile places India among an elite group of nations with such capabilities, enhancing its strategic posture in regional geopolitics. This advancement underlines India’s growing military prowess.
  • Adding to the narrative of self-reliance, Prime Minister Modi’s push for domestic production of defense equipment, including the K9 Vajra-T artillery platforms, has been highlighted. This initiative not only boosts the ‘Make in India’ campaign but also fortifies national security through indigenous innovation.

Defense and Strategic Developments

  • India’s strides in defense technology have also been a topic of global conversation. The successful test of a hypersonic missile places India among an elite group of nations with such capabilities, enhancing its strategic posture in regional geopolitics. This advancement underlines India’s growing military prowess.
  • Adding to the narrative of self-reliance, Prime Minister Modi’s push for domestic production of defense equipment, including the K9 Vajra-T artillery platforms, has been highlighted. This initiative not only boosts the ‘Make in India’ campaign but also fortifies national security through indigenous innovation.

Cultural and Leadership Recognition

  • In the cultural sphere, the influence of Indian cinema was acknowledged with tributes to Shyam Benegal, an influential director known for his contributions to India’s ‘parallel cinema.’ Benegal’s work from the 1970s, which challenged mainstream Bollywood by focussing on social issues, has been celebrated, reflecting India’s rich cultural fabric on the international stage.

Religious Freedom and Vision for the Future

  • The discourse on India’s democratic ethos was enriched by statements from figures like Mary Millben, who praised India’s commitment to religious freedom as a hallmark of its democracy. Such endorsements bolster India’s image as a pluralistic society.
  • India’s goal of Viksit Bharat by 2047 as envisioned by PM Modi has received endorsement from Indermit Gill, chief economist at World Bank. Complementing PM Modi on his vision, Gill believes that India will see its prime potential over the next two decades. Read more about India’s future prospects here.

The week has painted a picture of India as a nation on the move, not just in terms of economic metrics but also in cultural, technological, and diplomatic arenas. The global coverage reflects a growing recognition of India’s multifaceted development and its increasing influence on the world stage.

From the Gulf’s diplomatic corridors to the cutting-edge labs of defense technology, from the boardrooms of American companies to the cultural dialogues of cinema, India’s story this week has been one of global engagement, innovation, and leadership.