MSME Ministry launches ‘CHAMPIONS 2.0 Portal’, ‘Mobile App’ and 'MSME Idea Hackathon 3.0'

Tags: Economy/Finance National News

The Ministry of Micro, Small & Medium Enterprises (MSME) celebrated 'Udyami Bharat-MSME Day' on International MSME Day (27th June).

An overview of the news

• The event was attended by Narayan Rane, the Union Minister for MSME, as the Chief Guest, and Bhanu Pratap Singh Verma, the Union Minister of State for MSME, as the Guest of Honor.

• The occasion marked the launch of various initiatives by the Ministry of MSME to support the growth and development of MSMEs. 

• These initiatives included the 'CHAMPIONS 2.0 Portal' and the 'Mobile App for Geo-tagging of Cluster Projects and Technology Centers', which were launched by the Chief Guest and Guest of Honor.

• The results for the 'MSME Idea Hackathon 2.0' were announced, and the launch of 'MSME Idea Hackathon 3.0' specifically for women entrepreneurs took place.

• During the event, both Union Ministers presented certificates to Gold and Silver ZED-certified MSMEs, motivating and recognizing their achievements.

• Additionally, a digital release of a subsidy worth 400 crore rupees was made to 10,075 beneficiaries of the new Prime Minister's Employment Generation Programme (PMEGP) units.

Significance of MSMEs in India's GDP 

• Narayan Rane highlighted the significance of MSMEs in India's GDP and exports. 

• He expressed his hope that MSMEs would contribute to 50% of the country's GDP by 2030. 

• He congratulated all stakeholders and encouraged them to work towards making India a USD 5 trillion economy.

• Bhanu Pratap Singh Verma acknowledged the role of Indian MSMEs in the growth of the country's economy.

• He mentioned that since 2014, India's GDP ranking has significantly improved, moving from the 10th position to the 5th position.