New Delhi, March 13 -- Around 1.37 lakh micro, small and medium enterprises (MSMEs) have shut down since July 1, 2020, representing 0.17 percent of the total 7.83 crore MSMEs registered during the same period, the government informed the Lok Sabha.
Union Minister for MSME Jitan Ram Manjhi said the data is based on records available on the Udyam Registration Portal.
According to the minister, enterprises may deregister for several reasons such as change in ownership, duplicate registration, lack of requirement of the certificate, or closure of business operations.
The government also said the MSME sector contributed about 31 percent to Indias GDP in recent years. The share of MSME Gross Value Added (GVA) in the national GDP stood at 31...