Women-owned MSMEs are underrepresented on the Udyam Registration Portal (URP) | Current Affairs | Vision IAS
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    Women-owned MSMEs are underrepresented on the Udyam Registration Portal (URP)

    Posted 06 Feb 2024

    Updated 22 Mar 2024

    2 min read

    Women-owned MSMEs are underrepresented on the Udyam Registration Portal (URP)

    • Women-owned MSMEs constitute only 20.5% of MSMEs registered on the URP since its inception in 2020. 
      • Also, these MSMEs contribute only 10.22% of the total turnover of Udyam-registered MSMEs. 
    • By accelerating women's entrepreneurship, India could create over 30 million women-owned enterprises and around 150-170 million jobs (NITI Aayog). 

     

    • Challenges faced by women entrepreneurs
      • Poor Digital and technical skills due to low literacy rates, lack of access to mobile and Internet.
      • Inadequate access to formal credit as most women do not have assets in their name to pledge as collateral.
      • Most women-owned businesses are home-run, micro, and informal limiting their Market spaces.
      • A disproportionate burden of care economy, limited mobility for women, etc. 

     

    • Initiatives to promote women entrepreneurs
      • Public Procurement Policy (2018): Mandates at least 3% annual procurement from women-owned micro and small enterprises by Central Ministries/Departments/ Undertakings. 
      • Credit Guarantee Scheme for Micro & Small Enterprises: Provides additional concessions and guarantees for women entrepreneurs.
      • MSME Sustainable Zero Defect Zero Effect (ZED) Certification Scheme: 100% subsidy on cost of ZED Certification for Women-owned MSMEs.
      • Upgradation & Mahila Coir Yojana’ under Coir Vikas Yojana program, SAMARTH initiative, etc.

     

    About Udyam Registration Portal (URP) 

    • Launched under Ministry of Micro, Small & Medium Enterprises (MSME) for formalisation of MSMEs. 
    • Facilitates online registration for MSMEs, and generates Unique Registration Number (URN) and Udyam Assist Certificate (UAC) for MSMEs
      • URN is essential for a bank loan to an MSME to be classified under Priority Sector Lending (PSL).
    • Tags :
    • women entrepreneurs
    • MSMEs
    • Udyam Registration Portal (URP)
    • NITI Aayog
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