According to latest data provided by Bhanu Pratap Singh, the Minister of State in Ministry of Micro, Small and Medium Enterprises (MSME), the retail as well as wholesale traders under the MSME category have registered in huge numbers under the Udyam-registered MSMEs.
The minister, in a reply to a question in the Rajya Sabha, said that almost 96.47 lakh traders (retail and wholesale), which is a whopping figure, registered in the top 10 categories or sub-sectors of 1.38 crore Udyam-registered MSMEs as on Thursday, Feb 2, 2023.
These traders are the ones who were reinstated by the Indian government under the MSME category back in July 2021.
Out of the massive 96.47 lakh witnessed on the Udyam portal, the highest number of registrations were contributed from retail traders, standing at 19.7 lakh, and the second-highest registrations coming from wholesale traders at 12.3 lakh.
The latter excludes the traders dealing with motor vehicles and motorcycles, said Bhanu Pratap Singh.
As per the Indian central bank, Reserve Bank of India’s latest data, the gross bank credit deployed to the trade of retail as well as wholesale traders in India in Dec 2022, the figure jumped 13.7% YoY to Rs 7.68 lakh crore in the period from Rs 14.7% YoY in the same period last year at Rs 6.75 lakh crore.
Of the remaining eight categories from the top 10 sub-sectors, Singh informed in the Rajya Sabha that MSME registrations on the Udyam portal were contributed by:
- Manufacturers of food products at 11.6 lakh,
- Companies in land transport and transport through pipelines at 10.9 lakh,
- Those involved in the service activities of food and beverages at 10.2 lakh,
- The ones involved in other personal service activities at 10.1 lakh,
- Those involved in manufacturing activities at 6.31 lakh,
- Textile manufacturers at 5.99 lakh,
- Those involved in other professional, scientific and technical activities at 4.5 lakh, and
- Wearing apparels manufacturer at 4.43 lakh.
