MSME stands for Micro, Small and Medium Enterprises and is regulated through The Micro, Small and Medium Enterprises Development Act, 2006. It is also referred to as Udyog Aadhar.
MSME was introduced to facilitate the promotion and development and enhancing the competitiveness of micro, small and medium enterprises in India. The motive is to boost entrepreneurship spirit in India and help them overcome the constraints surfacing the startups. It aims at getting micro, small and medium enterprises on board and at par with stiff and cut throat competition it faces.
Enterprises under this are classified into Micro, Small and Medium on the following Basis
|Enterprise Type||Basis of Classification||Micro||Small||Medium|
|Enterprise engaged in manufacturing or production of goods||Investment in Plant and Machinery||Does not exceed INR 25 Lakhs||More than INR 25 Lakhs but less than INR 5 Crore||More than INR 5 Crore but less than INR 10 Crore|
|Enterprise engaged in rendering service||Investment in equipment||Does not exceed INR 10 Lakhs||More than INR 10 Lakhs but less than INR 2 Crore||More than INR 2 Crore but less than INR 4 Crore|
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