Around 25,000 MSMEs were locked out after Corona

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NEW DELHI: The number of micro, small and medium enterprises (MSME) closures during FY 2022-23 has more than doubled from the previous fiscal year. According to government data, during FY 2023, 13,290 enterprise-registered MSMEs closed, up 113 percent from the 6,222 MSMEs that closed during FY 2022, Minister of State for MSME Bhanu Pratap Singh Verma told the Lok Sabha. According to the data shared in a written reply to a question, from only 175 units closed during July-March financial year 2021, this number increased drastically after the Corona epidemic.

In the current financial year (as on July 18), 5,152 units were closed, taking the total number of closed MSMEs to 24,839 since July 2020, while 19,687 were closed as of July 2023.

Further, the number of MSMEs that closed between July 2021 and March 2023 was 19,248 and the number of people employed in those MSMEs as on July 13, 2023 was 1,32,205. However, during the same period, 45,99,944 new MSMEs were incorporated and 2,89,35,351 (2.89 crore) are registered on Udyam Portal with employment.

24,839 closed enterprises were 0.11 percent of the 2.08 sgse registered on the portal. Of the 2.08 crore units registered, 2.01 were micro enterprises, 5.59 lakh small enterprises and 52,792 medium units. This includes 30.93 lakh micro enterprises registered through the Udyog Sahay Portal to help non-GST registered micro units get on the Udyam Portal and avail priority sector credit.

6,317 MSMEs closed down in Maharashtra while 3,158 units closed down in Tamil Nadu, 2,292 closed down in Uttar Pradesh and 2,123 closed down in Gujarat.


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