Ministry of MSME is set to Implement New Norms of MSME Classification

Union Ministry of Micro, Small and Medium Enterprises, MSME has issued Gazette notification to pave the way for implementation of the upward revision in the definition and criteria of MSMEs in the country. The new definition and criterion will come into effect from 1st July, 2020.   After 14 years since the MSME Development Act came into existence in 2006, a revision in MSME definition was announced in the Atmnirbhar Bharat package last month. As per this announcement, the definition of Micro ma...