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Enterprises are growing faster in India, particularly since Covid 19, as the annual budget of MSME has also increased. As a result, to promote entrepreneurship, MSME has launched several portals that assist small business owners. MSME Sambandh and Udyam Sakhi Portal are two such portals discussed in this article. The Sambandh Portal Public Procurement Portal’s main objective is to monitor the implementation of the Public Procurement. In contrast, the Udyam Portal focuses on training women to be better entrepreneurs and increasing the share of women business owners.
What is MSME?
MSME, or the Ministry of Micro, Small, and Medium Enterprises, is a governmental body of India in charge of developing and enforcing rules, regulations, and laws governing micro, small, and medium businesses in India. It was created in 1999 and was given one of the highest funds in the country’s budget.
It also creates financial information services for the government and advises it on policy making for the development and promotion of SSIs. The regional offices also serve as vital liaisons between the State and Central governments.
Functions of MSME
MSME has played a crucial role in the Indian economy since its inception. They have also collaborated with cabinet members and stakeholders to advocate for rural areas. As a result, let us look at some of the functions of MSME:
- MSMEs provide banks with credit limits or funding assistance.
- They encourage entrepreneurial and skill development growth by establishing specialised training centres.
- MSMEs are well-known for providing reasonable assistance to improve domestic and export market access.
- They also provide cutting-edge testing facilities and high-quality certification services.
- MSMEs now endorse product development, innovative design, intervention, and packaging, in line with recent trends.
There are several portals run over the website and let’s talk about two portals like Sambandh And Udyam Sakhi Portal MSME Sambandh and Udyam Sakhi Portal.
Now, let us now come back to our main topic and examine the MSME sambandh and udyam Sakhi Portal. These are the inventive portals launched by MSME to help the Indian economy grow.
What is MSME sambandh portal?
MSME Sambandh Portal is launched as the Public Procurement Portal, whose main objective is to monitor the implementation of the Public Procurement from MSEs by Central Public Sector Enterprises.
On March 26, 2012, the Ministry of MSME issued the Public Procurement Policy for Micro and Small Enterprise ( SME (MSE) Order, which mandated that every Central Ministry/Department/PSU set an annual goal for purchasing from the MSE sector at the start of the year, to achieve an overall procurement goal of at least 20% of total annual items purchased from the products or services produced or rendered by MSEs.
Importance of MSME Sambandh portal
The following are the main features of the MSME Sambandh portal:
Wherever the words “20 percent” appear, the figures and word “25 percent” shall be replaced, and a special provision for women-owned micro and small businesses. Within the 25 per cent target, 3 percent of total annual purchasing from Micro and Small Enterprises shall be earmarked for purchasing from women-owned microenterprises.
What is Udyam Sakhi Portal?
In India, the number of women entrepreneurs grows as they start businesses. As a result, increasing the share of women business owners is critical, so the Ministry of Micro, Small, and Medium Enterprises initiative has launched the Udyam Sakhi Portal. It is a network that fosters social entrepreneurship by developing business models based on low-cost goods and services to address social inequities.
Its goal is to promote women entrepreneurs while also assisting, counselling, assisting, and protecting their interests. It also preserves competitive and open enterprise and helps maintain and strengthen our nation’s economy.
The Udyam Sakhi assists Indian women in starting, building, and growing businesses. It acknowledges that women entrepreneurs in the sector are crucial to the nation’s economic recovery and strength and to build the nation’s future and assist India in competing in today’s global marketplace.
Importance of Udyam Sakhi Portal
The services provided by the Udyam Sakhi Portal involve:
- Creating business plans and other entrepreneurial learning tools
- Teaching them how to fundraise
- Providing mentors
- Teaching them how to meet investors
- Providing a market survey facility
These portals play an important role in improving the economy of the country by increasing business opportunities and providing knowledge to entrepreneurs.
Conclusion
The Ministry of the Micro, Small, and Medium Enterprises MSME launches several portals to boost entrepreneurship in India and the country’s economy. These portals are critical to increasing the number of entrepreneurs in a country. Hence, in this article, we understood what MSME sambandh portal and udyam portal are and the importance of the MSME Sambandh And Udyam Sakhi Portal. The Sambandh Portal is a Public Procurement Portal whose primary goal is to monitor the implementation of Public Procurement. In contrast, the Udyam Portal focuses on training women to be better entrepreneurs and increasing the proportion of women business owners. MSME Sambandh Portal and Udyam Sakhi Portal are just two examples of entrepreneurship programs; there are many more.
