Economics · MSME Ecosystem and Schemes

Evaluate the following statements regarding the MSME ecosystem in India: 1. The MSME sector contributes approximately 30 percent to India's GDP and roughly 45 percent to the total manufacturing output of the country. 2. The Ministry of MSME launched the ASPIRE scheme to promote innovation, entrepreneurship, and agro-industry through a network of technology and incubation centers. 3. Under the Public Procurement Policy for MSEs Order 2012, it is mandatory for Central Ministries/Departments/PSUs to procure a minimum of 25 percent of their annual requirements from MSEs. 4. Within the 25 percent mandatory procurement target, sub-targets of 4 percent and 3 percent are reserved for MSEs owned by SC/ST and Women entrepreneurs respectively. 5. The Champions Portal is a technology-driven control room-cum-management information system for grievance redressal and supporting MSMEs. 6. MSMEs are eligible for a 50 percent subsidy on intellectual property expenses under the building awareness on IPR scheme. 7. The SMILE scheme by SIDBI provides quasi-equity and soft loans to MSMEs in focus sectors to maintain required debt-equity ratios. Which of the following is correct?