Ministry of Micro, Small and Medium Enterprises (MSME)
The Ministry of Micro, Small and Medium Enterprises, a branch of the Government of India, is the apex body for the formulation and administration of rules, regulations and laws relating to micro, small and medium enterprises in India.
What is meant by MSME?
Definitions of Micro, Small & Medium Enterprises In accordance with the provision of Micro, Small & Medium Enterprises Development (MSMED) Act, 2006 the Micro, Small and Medium Enterprises (MSME) are classified in two Classes: … The Manufacturing Enterprise are defined in terms of investment in Plant & Machinery.
Why is MSME important?
The advantage of this sector is it requires less investment, thus creating employment on a large scale, and reducing the employment and underemployment problems. … Micro, Small and Medium-sized Enterprises (MSME) are one among the most important sectors, forming the backbone of the Indian economy.