Summary:

The Economic Survey, released by Finance Minister Nirmala Sitharaman, emphasizes the importance of the MSME sector, which accounts for 35.4% of Indian manufacturing production. It highlights increased productivity, with Gross Value Added per employee rising to $1,695.15 and Gross Value of Output per establishment reaching $5,540.81. The successful Udyam Registration platform, with 4.69 crore registrations, and higher MSME guarantees, funded by $1.08 billion from the Union Budget, are boosting sector growth and formalization.

The Survey underscores India's 'Aatmanirbhar' ambition through Production Linked Incentive (PLI) Schemes, providing $23.55 billion to enhance manufacturing and exports across 14 industries. Investments exceeding $15.30 billion resulted in $129.12 billion in production and 8.5 lakh jobs. Exports increased by $47.82 billion. Initiatives like the One District One Product (ODOP) scheme, Unity Malls, and PM-Ekta Malls aim to promote local craftsmen and goods, with global visibility enhanced through G20 events.

Source: IBEF 

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