Quick Summary
Minister of MSME and Road Transport and Highways Shri Nitin Gadkari today announced revised guidelines for MSMEs with inclusion of Retail and Wholesale trades as MSMEs. In a Tweet he said under the leadership of PM Shri Narendra Modi Ji, we are committed to strengthening of MSME and make them engines for economic growth. Shri Gadkari said the revised guidelines will benefit 2.5 Crore Retail and Wholesale Traders. He said Retail and wholesale trade were left out of the ambit of MSME, now under the revised guidelines, retail and wholesale trade will also get benefit of priority sector lending under RBI guidelines.
With the revised guidelines the Retail and wholesale trades will be now be allowed to register on Udyam Registration Portal.
FAQ :
The main change is the inclusion of Retail and Wholesale trades within the definition of MSMEs.
The revised guidelines were announced by the Minister of MSME and Road Transport and Highways, Shri Nitin Gadkari.
Approximately 2.5 crore retail and wholesale traders are expected to benefit from these revised guidelines.
Retail and wholesale traders will now be eligible for benefits such as priority sector lending under RBI guidelines.
Yes, under the revised guidelines, retail and wholesale trades will be allowed to register on the Udyam Registration Portal.
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