Wednesday, August 4, 2021

Govt decides to bring retail and wholesale trade under ambit of MSME

The government has decided to bring retail and wholesale trade under the ambit of Micro, Small, and Medium Enterprises (MSME). It has issued revised guidelines to include retail and wholesale trade as MSME and extend to them the benefit of priority sector lending under the RBI guidelines.

In a series of tweets, MSME Minister, Nitin Gadkari said, the decision will benefit 2.5 crore retail and wholesale traders. He said that the government is committed to the strengthening of MSME and make them engines for economic growth. With the revised guidelines the Retail and wholesale trades will now be allowed to register on Udyam Registration Portal.

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