 "Wholesalers, retailers to be included under MSME sector: Nitin Gadkari")
Union Minister Nitin Gadkari on Friday has issued an order to revise the definition for Micro, Small and Medium Enterprises by including retailers and wholesale traders under the MSMEs to extend the benefits of the priority sector lending to them.
The existing definition of MSMEs includes manufacturing and service enterprises whereas retail and wholesale trade was not classified under the same.
Union Minister Nitin Gadkari tweeted regarding the revised definition of MSMEs and said that it will benefit 2.5 crore Retail and Wholesale Traders.
"Retail and wholesale trade were left out of the ambit of MSME. Under the revised guidelines, MSME has issued an order to include retail and wholesale trade as MSME and extending to them the benefit of priority sector lending under RBI guidelines," Gadkari's tweet read.
"Under the leadership of PM Narendra Modi Ji, we are committed to strengthening MSME and make their engines for economic growth. The revised guidelines will benefit 2.5 Cr Retail and Wholesale Traders," he added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app