Daijiworld Media Network – Mumbai
Mumbai, Jul 29: Shiv Sena (UBT) on Wednesday alleged that more than 1.21 lakh Micro, Small and Medium Enterprises (MSMEs) had shut down across the country over the past three years, claiming the figures expose the Centre's assertions on industrial growth, foreign investment and job creation.
In an editorial published in its mouthpiece Saamana, the Uddhav Balasaheb Thackeray-led party cited data presented by the Central government in the Lok Sabha and claimed that the closure of industries had resulted in the loss of employment for hundreds of thousands of young people.
The editorial said 1,21,805 MSME units ceased operations between 2024 and 2026. It described the MSME sector as the backbone of the Indian economy, contributing significantly to employment and exports, while alleging that the number of closures had steadily increased over the past decade.
According to the party, Maharashtra recorded the highest number of MSME closures at 28,764 units, followed by Tamil Nadu with 14,176, Gujarat with 11,150 and Rajasthan with 9,881 units.
The editorial argued that these figures contradicted the government's claims of attracting large-scale foreign investment and creating employment through new industrial projects.
It further claimed that although more than Rs 35 lakh crore had been extended as loans to support MSMEs and startups over the past decade, entrepreneurs continued to face rising operational costs, limited access to affordable credit, delayed payments from large companies and bureaucratic hurdles in receiving dues from government departments.
The party also criticised governments for focusing on attracting new investments through international outreach, including participation in events such as the World Economic Forum in Davos, while allegedly neglecting the revival of existing industries facing financial distress.
Referring to Maharashtra, the editorial claimed that while more than 75 lakh new enterprises had been registered in the state over the last three years, over 28,000 MSME units had shut down during the same period.
It alleged that the absence of rehabilitation measures for struggling industries had led to rising non-performing assets (NPAs) for banks and widespread job losses, accusing the government of failing to provide adequate support to revive sick industrial units.