CURRENT AFFAIRS

Detailed explanation-1: -Both MoUs were signed by the Mauritius government’s small business promotion entity SME Mauritius - one with Entrepreneurship Development Institute of India (EDII)- Ahmedabad and another with the National Institute for Micro, Small and Medium Enterprises (NI-MSME).

Detailed explanation-2: -Emergency Credit Line Guarantee Scheme (ECLGS) has delivered additional credit to more than 130 lakh MSMEs. The ECLGS will be extended up to March 2023 expanding the guarantee cover by INR 50,000 crore to a total cover of INR 5 Lakh Crore.

Detailed explanation-3: -Micro, small and medium-sized enterprises (MSME) are regarded as the backbone of the Indian economy. With the presence of over 63 million MSMEs employing over 110 million people staggered across services, manufacturing sector contributes nearly 30% to the GDP.

Detailed explanation-4: -India has more than 7.9 million micro, small and medium enterprises (MSMEs), as of 27 March, 2022, according to the Ministry of Micro, Small & Medium Enterprises.