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Big step for MSMEs : PM Modi

“Our government has taken a landmark step of including retail and wholesale trade as MSME. This will help crores of our traders get easier finance, various other benefits and also help boost their business” wrote PM Modi

SNS |

Prime Minister Narendra Modi today said the central government has taken a landmark step by including retail and wholesale trade as part of micro, small and medium enterprises (MSMEs).

The PM, in his Twitter handle, today wrote, ” Our government has taken a landmark step of including retail and wholesale trade as MSME. This will help crores of our traders get easier finance, various other benefits and also help boost their business. We are committed to empowering our traders. “

The minister of MSME and Road Transport and Highways, Nitin Gadkari, today announced revised guidelines for MSMEs which is expected to benefit 2.5 crores retail and wholesale traders.

The transport minister, highlighted, “Under the leadership of Prime Minister Narendra Modi, we are committed to the strengthening of MSMEs and turn them into engines for economic growth.”

He said the revised guidelines will benefit 2.5 Crore retail and wholesale traders who were previously left out of the ambit of MSMEs but now under the revised guidelines. Retail and wholesale trade will also get the benefit from 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.