PMEGP, a flagship initiative of the Ministry of Micro, Small and Medium Enterprises (MSME), implemented by the Khadi and Village Industries Commission (KVIC) plays a crucial role in promoting self-employment by enabling the establishment of new micro-enterprises in the non-farm sector, particularly in rural and semi-urban areas. Under the scheme, prospective entrepreneurs are provided financial assistance in the form of Margin Money (MM) subsidy on bank-sanctioned loans providing much needed impetus to enterprise creation.

Since FY 2014-15, around 8.12 lakh micro entrepreneurs have been assisted with MM Subsidy to the tune of Rs. 24,398.61 crore under PMEGP for generation of sustainable employment opportunities to ~73.08 lakh persons.

Turning Aspirations into Enterprises: PMEGP Driving Grassroots Transformation

PMEGP is transforming the aspirations of ordinary individuals into successful enterprises by providing easy access to credit supported by MM subsidy. It enables first-generation entrepreneurs to establish viable businesses, turning job seekers into job creators.

The success of PMEGP is best reflected in the inspiring journeys of its beneficiaries, who have transformed their entrepreneurial aspirations into thriving enterprises:

Skinkaanti Ayurveda – From Micro Enterprise to National Leader: Founded by Smt. Pooja Sharma based in Parwanoo, Himachal Pradesh, Skinkaanti Ayurveda exemplifies remarkable growth from a modest micro-enterprise into India’s largest handmade soap manufacturing unit. Established with a project cost of Rs. 25 lakh and supported by State Bank of India, the enterprise today records an impressive annual turnover of Rs. 30 crore and provides employment to 300 individuals, of which 95% are women. By blending Ayurvedic principles with modern scientific techniques, the unit has achieved significant technological breakthroughs, including improved manufacturing efficiency and cost reduction, while supplying products across India through diverse retail and institutional channels.

M/s Ess Pee Quality Products – From PMEGP Support to Global Recognition: Established by Shri Surender Pal Singh Nagi in Mohali, Punjab, M/s Ess Pee Quality Products has evolved into a globally competitive food processing enterprise. With an initial project cost of Rs. 21 lakh financed by Bank of Baroda, the unit has grown into a Rs. 38 crore turnover business, generating employment for around 130 individuals. The enterprise manufactures honey, cookies, and fruit jams, and exports to 26 countries, including the USA, Australia, and France. Its achievement of the prestigious AA+ BRCGS certification highlights its adherence to global quality and safety standards.

The success stories of the PMEGP entrepreneurs demonstrate the transformative impact of the scheme in fostering entrepreneurship, promoting scaling up of micro-enterprises and a key driver of employment generation and inclusive growth across the country.

Prospective beneficiaries can know more about the scheme and submit their applications through the official PMEGP portal at: https://pmegp.msme.gov.in/

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Sunil Kumar Tiwari

E-mail - hipessi[at]gmail[dot]com

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