Wednesday, December 1, 2021

Government brings retail and wholesale trade under ambit of Micro, Small, and Medium Enterprises

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 extending to them the benefit of priority sector lending under 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, the Government is committed to strengthening of MSME and making 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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