MSME: New definition that will take effect from 1st July

REVISION IN MSMEs (Micro, Small and Medium Enterprises)

Government has revised the following things in relation to MSME:

Manufacturing Enterprises:

1. For Micro: - Investment in plant & machinery or equipment< INR 25 Lakh, but now Investment in plant & machinery or equipment < INR 1 cr. and Turnover < INR 5 cr.
2. For Small: - Investment in plant & machinery or equipment > INR 25 Lakh< INR 5 cr., but now Investment in plant & machinery or equipment > INR 1 cr. < INR 10 cr. and Turnover > INR 5cr.< INR 50 cr.
3. For Medium: - Investment in plant & machinery or equipment > INR 5 cr.< INR 10 cr., but now Investment in plant & machinery or equipment > INR 10 cr.< INR 50 cr. and Turnover > INR 50 cr.< INR 250 cr.

Servicing Enterprises:

1. For Micro: - Investment in plant & machinery or equipment < INR 10 Lakh, but now Investment in plant & machinery or equipment < INR 1 cr. and Turnover < INR 5 cr.
2. For Small: - Investment in plant & machinery or equipment > INR 10 Lakh< INR 2 cr., but now Investment in plant & machinery or equipment > INR 1 cr. < INR 10 cr. and Turnover > INR 5 cr.< INR 50 cr.
3. For Medium: - Investment in plant & machinery or equipment > INR 2 cr.< INR 5 cr., but now Investment in plant & machinery or equipment > INR 10 cr.< INR 50 cr. and Turnover > INR 50 cr.< INR 250 cr.

The above change shall come into effect from 1st July, 2020

Government has launched CHAMPION portal. It has following objectives: -

1. To help the MSMEs in this difficult situation in terms of finance, raw materials, labour, permissions, etc.
2. To help the MSMEs capture new opportunities including manufacturing of medical items & accessories.
3. To identify the sparks, i.e., the bright MSMEs who can withstand at present and become national and international champions.

Link:

• http://www.dcmsme.gov.in/Gazette-notification.pdf
• https://champions.gov.in/MyMsme/grievance/COM_Grievance_Welcome.aspx
• https://pib.gov.in/PressReleasePage.aspx?PRID=1628925