Indian Minister Manjhi highlights MSME growth and credit growth in FY 2025
Indian MSME Minister Jitan Ram Manjhi has highlighted the rapid progress made by the micro, small and medium enterprises (MSME) sector. He was addressing a press conference in Mumbai on July 4, 2025, after review visits to IDEMI and Khadi and Village Industries Commission (KVIC) offices on July 3.
Describing MSMEs as the second largest contributor to India's economy, Manjhi said the sector contributes 30.1 per cent to the country's GDP, 35.4 per cent to manufacturing and 45.73 per cent to exports. The minister shared that over 3.80 crore units are now registered on the Udyam portal that enables paperless registration for MSMEs, the Ministry of Micro, Small and Medium Enterprises said in a release.
Additionally, over 2.72 crore units have been registered on the Udyam Sahayata portal launched to formalise informal micro enterprises. These 6.5 crore MSMEs have together generated employment for 28 crore people. He said the number of MSME units has increased fifteen-fold in the last five years.
Highlighting government assistance schemes, Manjhi said the Pradhan Mantri Employment Generation Programme (PMEGP) has facilitated employment to 80.33 lakh individuals, of which 80 per cent of the beneficiaries are in rural India. Under the Credit Guarantee Scheme, over 1.18 crore guarantees worth ₹9.80 lakh crore ($117.6 billion) have been approved so far, with a record ₹3 lakh crore ($36 billion) of credit guarantees extended in fiscal year 2025 (FY25) alone. The number of beneficiaries is expected to triple by 2029.
He said the case backlog on the MSME Samadhaan portal, designed to resolve issues of delayed payments, has come down from 93,000 in October 2017 to 44,000 currently.
The minister also lauded entities like KVIC, Coir Board and National Small Industries Corporation Ltd for promoting small industries and contributing to GDP and exports. He reaffirmed the government's commitment to empower artisans through initiatives like the PM Vishwakarma Yojana, which provides end-to-end support to 18 traditional businesses.
