Industry And Cluster | News & Insights

Need for a separate ministry focusing on micro enterprises with dedicated policy support: CIA

Published: October 26, 2021
Author: Manali bhanushali

Consortium of Indian Associations (CIA), a prominent MSME body representing around 50 MSME associations across the country, has urged the government to create a separate ministry for micro enterprises for better focus and policy support catering to micro entrepreneurs. The demand stems from the fact that over 99 per cent of enterprises in the MSME category are micro units, which have turnover less than Rs 5 crore, that aren’t comparable to businesses with turnover up to Rs 250 crore. According to the MSME Ministry’s 2020-21 annual report, of 6.33 crore MSMEs in India, 6.30 crore are micro enterprises, while 3.31 lakh are small units, and only 5,000 are medium businesses accounting for 0.52 per cent and 0.01 per cent of the total estimated MSMEs, respectively. 

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