Question

What is the new definition of MSME?

Answer 1

As per the latest update as on July 2020, the new definition of MSME is as follows:

1. The micro units are defined as those units that have annual turnover not exceeding 5 crores and investment on plant, machinery and equipment not exceeding 1 crore.

2. The small units are defined as those units that have annual turnover of the business not exceeding 50 crores and investment in plant, machinery and equipment not exceeding 10 crores.

3. The medium units are defined as those units that have annual turnover not exceeding 250 crores and investment on plant, machinery and equipment not exceeding 50 crores.

Also read:

• Role and Importance of Small Scale Industries
• Small Scale Industries
• Administrative Setup for Small Scale Agro and Rural Industries
• Large Scale Industries

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