New Delhi, March 19 -- India has witnessed a sharp rise in the closure of micro, small and medium enterprises (MSMEs) during the 2024-25 financial year, with 35,567 businesses shutting down as of February 28, 2025.

This information was revealed by Minister of State for MSMEs Shobha Karandlaje in a written reply to the Rajya Sabha on Tuesday.

The current year's closures represent approximately 47.4 per cent of the total 75,082 MSMEs that have ceased operations since the Udyam Portal was launched on July 1, 2020.

This registration platform was established as part of the government's ease of doing business initiatives. Notably, the number of shutdowns has almost doubled compared to the previous financial year (2023-24), which recorded 19,...