Revised Definition of MSME – Addition of Retail and Wholesale Trade

Ministry of Micro, Small, and Medium Enterprise (MSME) has announced a revised definition for MSMEs with the inclusion of retail and wholesale trades as MSMEs.

With the revised guidelines the retail and wholesale trades will now be allowed to register on Udyam Registration Portal.

The existing definition of MSMEs includes manufacturing and service enterprises whereas retail and wholesale trade was not classified under the same.

Now under the revised guidelines, retail and wholesale trade will also get the benefit of priority sector lending under the Reserve Bank of India (RBI) guidelines.

Read more at India Filing