MSMEs Are the Backbone of Gujarat’s Growth: CM Bhupendra Patel

Chief Minister Bhupendra Patel declared on Sunday that Micro, Small, and Medium Enterprises (MSMEs) are the backbone of Gujarat’s economy and play a vital role in India’s development.

Speaking at a regional conference organized by Laghu Udyog Bharati in Vadodara, Patel emphasized the government’s commitment to providing global platforms for MSMEs to compete internationally and foster innovation.

He highlighted the importance of collective efforts in achieving Prime Minister Narendra Modi’s vision of a developed India through the principles of “Sabka Saath, Sabka Vikas, Sabka Vishwas, and Sabka Prayas.”

Patel credited PM Modi’s leadership for transformative changes in India’s manufacturing sector, which have created new growth opportunities across various industries. He celebrated the 10-year anniversary of the “Make in India” initiative, which has established India as a manufacturing and innovation hub.

Also Read: Indian Stock Market Continues Bull Run, Sensex Hits 85,000 For First Time

The Chief Minister stressed the need for MSMEs to adopt cutting-edge technologies to enhance productivity and efficiency. He acknowledged the contributions of Laghu Udyog Bharati in supporting small enterprises and encouraged ongoing efforts to promote innovation in line with national priorities such as “Zero Defect, Zero Effect.”

Patel reassured the industry that Gujarat remains a favored destination for investments due to its progressive policies and ease of doing business. He urged small businesses to take advantage of government policies for growth and expressed optimism about new opportunities for startups and industries, which could help India become the world’s third-largest economy.

Ghanshyambhai Oza, National President of Laghu Udyog Bharati, noted that MSMEs contribute approximately 35% to India’s GDP. He praised the organization’s expansion from 50 entrepreneurs in 1994 to over 55,000 across 490 districts today, highlighting its crucial role in driving industrial growth.

In August 2024, Gujarat reached over 20 lakh Udyam MSME registrations, ranking fifth in the country. The states ahead of Gujarat are Maharashtra, Tamil Nadu, Uttar Pradesh, and Rajasthan. Of the registered units, Gujarat includes 19.10 lakh micro enterprises, 81,841 small units, and 8,460 medium units, making it second in medium enterprises after Maharashtra.

Despite these achievements, experts suggest that the actual number of MSMEs in Gujarat may be higher, as many units remain unregistered for various reasons. This indicates that the state’s true MSME potential could be significantly underrepresented.