Recent Current Affairs related to MSME

The Department of Pharmaceuticals under the Ministry of Chemicals and Fertilizers has launched the ‘New Discovery Track’ under the Promotion of Research and Innovation in Pharma and MedTech (PRIP) scheme.

The initiative provides financial assistance of up to ₹50 crore per project to startups and MSMEs through the PRIP portal. To advance projects from Technology Readiness Levels (TRL) 1-3 to TRL 6, participants must provide a mandatory 25% co-funding.

It is to be noted that 41 projects were approved with a total funding of ₹1,600 crore during the initial call of the scheme. The PRIP scheme was launched in 2023 with a total outlay of ₹5,000 crore to promote research and innovation in the pharmaceutical and medical technology sectors.

The Union Cabinet has approved a commitment of ₹10,000 crore for the establishment of the SME Growth Fund (SGF). Under this framework, the centre will provide the amount to an Alternative Investment Fund (AIF) to support Small and Medium Enterprises (SMEs).

The initiative aims to provide growth-oriented capital for SMEs in manufacturing, services, technology, and innovation-driven sectors. It is designed to enable the emergence of “champion Indian enterprises” across strategic value chains.

The Ministry of Micro, Small and Medium Enterprises (MSME) has signed an MoU with the Ministry of Statistics and Programme Implementation to develop and strengthen the Statistical Business Register.

The agreement facilitates a framework for sharing information from the Udyam Registration ecosystem.

The PM Vishwakarma Scheme has completed 3 years of implementation and reached a milestone of 30 lakh registrations. The scheme provides end-to-end support to traditional artisans and craftspeople in 18 identified trades through skill development, modern tools, and market access.

Beneficiaries are eligible for a collateral-free Enterprise Development Loan (EDL) of up to ₹3 lakh, which is disbursed in two separate tranches to provide affordable credit support.

The Uttar Pradesh Cabinet, chaired by CM Yogi Adityanath, has approved 23 development proposals focusing on industrial growth and employment.

Key approvals include the establishment of an ethanol plant in Mathura and the “UP Toy Manufacturing Promotion Policy 2025” to incentivize specialized manufacturing. The measures also cover various infrastructure projects and welfare reforms to strengthen the socio-economic framework of the state.

National Small Industry Day

Day - August 30

Observed since - 2001

Commemorating - The announcement of comprehensive policy package for Small Scale Industries (SSIs) during the 1st National Conference on SSI, by then PM Atal Bihari Vajpayee in 2000

Union Minister Pralhad Joshi has inaugurated the state-of-the-art building of the National Test House (NTH) in Bengaluru to mark its 115th Foundation Day. NTH functions under the Department of Consumer Affairs of the Ministry of Consumer Affairs, Food and Public Distribution (MoCAF&PD).

During the event, he also virtually commissioned various facilities and initiatives across the national NTH network. The “NTH Suvidha” mobile app was launched to streamline testing access for industry stakeholders and Micro, Small and Medium Enterprises (MSMEs).

The 4th meeting of the India-Denmark Joint Working Group (JWG) was held in Copenhagen, Denmark, involving the Ministry of Micro, Small and Medium Enterprises (MSME) and the Danish Patent and Trademark Office (DKPTO).

The meeting focused on strengthening bilateral cooperation between the countries in the sectors of MSME development, innovation, and Intellectual Property (IP).

Bombay Stock Exchange (BSE) has signed an MoU with the PHD Chamber of Commerce and Industry (PHDCCI) to facilitate equity financing for Micro, Small and Medium Enterprises (MSMEs) through capital markets.

India has hosted the 10th BRICS Industry Ministers Meeting in Jaipur, Rajasthan. The meeting focused on the BRICS Partnership on New Industrial Revolution (PartNIR) initiatives and concluded with the adoption of a Joint Declaration.

Meanwhile, the Ministry of Information and Broadcasting (MIB), through the National Film Development Corporation (NFDC), hosted the 'BRICS WAVES Bazaar 2026' in Mumbai, Maharashtra. The event featured the India-Russia co-production 'KOROVA', the launch of the BRICS Independent Producers Alliance (BIPA), and the signing of several agreements.

Union Minister Piyush Goyal has felicitated top buyers and leading sellers during the 10th foundation day celebration of the Government e Marketplace (GeM) held at Bharat Mandapam in New Delhi.

During the event, GeM launched a nationwide 5-digit short code helpdesk number '14550' to improve its support services. A customized 'My Stamp' and a commemorative film showcasing the 10-year journey of GeM were also launched.

Indian Bank approved nearly ₹500 crore in Micro, Small and Medium Enterprises (MSME) loans to 128 beneficiaries during a Credit Outreach Programme in New Delhi.

Credit proposals worth nearly ₹1,250 crore were mobilised during the event, which was held as part of the 120th Foundation Day Fortnight Celebrations of the bank. The programme also marked the launch of the Unified MSME Portal, a digital platform designed to provide seamless and integrated lending services for MSME customers.

The Ministry of Micro, Small and Medium Enterprises (MSME) has signed an MoU with the Department for Promotion of Industry and Internal Trade (DPIIT) to accelerate the commercialisation and global market access of the Geographical Indication (GI) products of India.

Under the initiative, the ‘Bharat GI’ banner was launched to integrate regional GI products onto digital platforms.

The 16th BRICS Trade Ministers’ Meeting was held in Jaipur, Rajasthan, under India’s BRICS Chairship for 2026. Chaired by Union Minister Piyush Goyal, the meeting was held under the theme “Building for Resilience, Innovation, Cooperation and Sustainability”.

Additionally, the Competition Commission of India (CCI) hosted the BRICS Heads of Competition Authorities meeting in Udaipur, Rajasthan. The event featured a collaborative study on the renewable energy sector, presentations on recent enforcement initiatives, and strategic planning for the 2027 conference in Brazil.

The Government e-Marketplace (GeM) has achieved a cumulative Gross Merchandise Value (GMV) of ₹20 trillion. The platform was launched in 2016.

Micro and Small Enterprises (MSEs) accounted for 45.6% of the total procurement value on the portal, which has facilitated over 3.78 crore orders.

The Tripura govt has signed 3 MoUs with the National Stock Exchange of India Ltd (NSE) to promote financial literacy, skill development, entrepreneurship, and investment awareness in the state.

Axis Finance Ltd (AFL) has launched an in-house Business Rules Engine (BRE) and digital platform named 'Axis Finance Drishti'.

It is designed to strengthen credit decision-making and risk management in the retail and Micro, Small and Medium Enterprise (MSME) lending sectors by enabling faster, data-driven, and scalable credit assessments.

EbixCash World Money Ltd has become the first Authorised Dealer Category-II (AD-II) entity in India to receive authorization from the RBI to facilitate trade and family maintenance remittances, a domain previously dominated by banks.

The enhanced licence permits EbixCash to process trade remittances up to ₹25 lakh per transaction. Furthermore, the entity has received authorization to maintain Nostro accounts, enabling the direct settlement of international transactions without routing them through intermediary correspondent banks.

Prem K Vora, the President of the Electric Merchants Association (EMA) for 2025-26, has been honoured with the 'Rashtriya Ashok Samman' (Bharat Samman) at the National Leadership Conclave held in New Delhi.

The Internet and Mobile Association of India (IAMAI) has launched the Electronic Commerce Council of India (ECCI) in Bengaluru, Karnataka.

The ECCI is a nationwide platform designed to strengthen the digital commerce ecosystem of India through collaboration among the industry, government, and other stakeholders. It has already onboarded 70 to 80 members.