The total jobs reported by micro, small, and medium enterprises (MSMEs) registered with the government have surpassed the 23-crore mark. According to the MSME Ministry, 5.49 crore MSMEs registered on the Udyam portal have reported 23.14 crore jobs, up from 13.15 crore jobs by 2.33 crore units as of August 2023. This indicates an increase of 10 crore jobs in just 15 months.
Of the total employment, informal micro units accounted for 2.84 crore jobs, with women comprising 5.23 crore of the workforce. Currently, 5.41 crore are micro enterprises, while small and medium enterprises make up 7.27 lakh and 68,682 units, respectively.
Udyam Portal Drives MSME Jobs Growth
At the launch of the Udyam portal in July 2020, 2.8 crore jobs were recorded. By comparison, the National Sample Survey (2015-16) estimated 11.10 crore jobs in the MSME sector, covering 6.33 crore unincorporated non-agriculture units across rural and urban India. These jobs spanned manufacturing, trade, services, and non-captive electricity generation.
RBI data shows 46.7 million jobs were created in FY24, bringing India’s total job count to 64.33 crore. Agriculture jobs constituted 45% of this, or around 25-29 crore jobs, as per the Economic Survey 2023-24.
Job Losses and MSME Closures
While MSME jobs grew, closures since 2020 led to job losses. According to MSME Minister Jitan Ram Manjhi, 49,342 MSMEs shut down, resulting in a loss of 3.17 lakh jobs.
Closures occurred for reasons like ownership changes, duplicate registrations, or discontinued certifications, Manjhi stated in a written Lok Sabha reply. Despite challenges, MSME jobs growth in India continues to be a significant contributor to employment.
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