PM Modi launches Rs 6,000 cr RAMP scheme for MSMEs, new initiative for first time exporters

Prime Minister Narendra Modi on Thursday announced the 6,000 crore 'Raising and Accelerating MSME Performance' (RAMP) scheme in the 'Udyami Bharat' programme at Vigyan Bhawan in New Delhi.

The five-year RAMP scheme, announced by the government and the World Bank in 2020 to assist Covid-hit MSMEs in their business recovery, will commence in the current fiscal year 2022-23.

Addressing ‘Udyami Bharat’ programme,PM Modi said, “18,000 MSMEs have been digitally transferred over Rs 500 crore and over Rs 1,400 crore has been released under Rs 50,000 crore Self-Reliant India Fund for MSMEs. MSMEs play a big role in the country’s progress. Around one-third contribution to India’s GDP comes from MSMEs. If India earns Rs 100, Rs 30 is because of MSMEs. Strengthening the MSME sector benefits everyone.”

The Prime Minister further said that for orders up to Rs 200 crores, no global tender will be undertaken.

"Our government has decided not to conduct global tenders in government procurement up to Rs. 200 crore." In some ways, this is similar to your reservation. You must demonstrate by doing anything that the government must prohibit worldwide tendering in government procurement up to 500 crore, he added.

In a statement in June 2021, the World Bank had said RAMP targets improvement in the performance of 5.55 lakh MSMEs. RAMP’s monitoring and policy overview would be undertaken by an apex National MSME Council headed by the Minister for MSME, the Cabinet had said in a statement in March this year. 

During the event, the prime minister also launched 'Capacity Building of First-Time MSME Exporters' (CBFTE) scheme and new features of the 'Prime Minister's Employment Generation Programme' (PMEGP).

The 'Capacity Building of First-Time MSME Exporters' (CBFTE) scheme, aims to encourage MSMEs to offer products and services of international standards for the global market. This will enhance the participation of Indian MSMEs in the global value chain and help them realise their export potential.