Bengal MSME sector booms: ‘Rs 8.77 lakh cr credit disbursed, registrations up by 19%’

Kolkata: Since the Mamata Banerjee government came to power in 2011, the total credit disbursement to the Micro, Small and Medium Enterprises (MSME) sector by the state government has already touched Rs 8.77 lakh crore.

The registration of MSMEs on the Udyam Portal from April to December, 2024 has gone up by 19.32 per cent compared to the corresponding figure of 2023.

According to the state government data, about 4.24 lakh MSMEs registered themselves during the April-December period last year on this portal.

The total number of MSMEs on the Udyam portal was around 14.26 lakh from the date of the new registration system. As there was a major boost in the MSME sector ever since the current government came to power, an approach was taken to bring MSMEs under the registration fold.

According to the statement of Finance minister Chandrima Bhattacharya in the Budget, the total credit disbursement of the state government to the MSME sector reached Rs 8.77 lakh crore.

In the current financial year, the disbursement up to the second quarter has touched Rs 1.14 lakh crore which is nearly 74 per cent of the annual target, registering a 27.77 per cent growth on a year-over-year basis.

Chief Minister Mamata Banerjee always laid special emphasis on the MSME sector. She always pointed out that Bengal has one of the largest bases for MSMEs in India and the sector provides employment to millions, especially in rural and semi-urban areas.

Significantly, during this year’s BGBS, Amazon India signed a Memorandum of Understanding (MoU) with the MSME and Textile department. As part of this agreement, Amazon will provide training and onboarding to MSMEs from the state, enabling them to sell their products to customers in over 200 countries and territories worldwide. The MoU was signed in the presence of the Chief Minister.

The MSME Annual Report 2023- 24 published by the Central government said that Bengal has emerged as the top scorer in the landscape of women-owned MSMEs accounting for 23.42 per cent share of female-owned enterprises. Bengal has also emerged as a hub in the MSME sector in the light of about 3,838 industrial parks set up over 1,607 acres of land while many proposals for the same were accepted by the state government.

An online single window system ‘Shilpa Sathi’ portal was created to facilitate the industrialists/entrepreneurs interested in starting a new venture. Interestingly, the Mamata Banerjee government has given financial assistance of Rs 426 crore under the Bhabishyat Credit Card Scheme to more than 20,000 youths.