Public procurement up by nearly 100% and digital transaction worth Rs 84000 crore by MSME ministry
Public procurement from MSMEs surged 100% to Rs 75,742 crore in FY24, according to the Ministry of Micro, Small and Medium Enterprises' (MSME) latest annual report (2023-24) released Monday.
As per the report public procurement from MSMEs by 133 Central Public Sector Enterprises (CPSEs) and one department has increased by almost 100% to Rs 75,742 crore in FY24, up from Rs 38,432 crore in FY23.
Total procurement by CPSEs and departments reached Rs 2,13,685 crore in FY24, a nearly 100% increase from Rs 1,07,988 crore in FY23.
The ministry also reported conducting 85% of its transactions digitally, amounting to Rs 84,046 crore in the previous financial year, as part of the "Digidhan Mission"."
Among the MSMEs registered on the Udyam and Udyam Assist Platform (UAP), the report points out that 45% of the enterprises belong to the trading sector, while 36% and 19% are from the services and manufacturing sectors, respectively.
MSME registrations also showed their geographic concentration in a few states such as Uttar Pradesh, West Bengal, Gujarat, Rajasthan and Andhra Pradesh.
