PTI New Delhi

The registered MSMEs (micro, small and medium enterprises) in the country are expected to touch 9 crore mark by 2029, a senior government official said on Wednesday. More than 6 crore MSMEs are currently registered under Udyam and Udyam Assist (UA) portals, Joint Secretary in the Ministry of Micro, Small and Medium Enterprises Mercy Epao said at the Assocham event here.

"We are trying to formalize all the MSMEs in the country and hopefully by 2029 we will reach 9 crore," Assocham said in a statement quoting Epao. She said that bank credit to these entities has been growing faster than credit dispersal to large enterprises.  Niti Aayog is working on a programme to improve India's penetration into global value chains for growth of domestic micro, small and medium enterprises (MSMEs), CEO of the government think-tank B V R Subrahmanyam said on Wednesday.