Government includes retail & wholesale trade under MSMEs
Government has revised the guidelines to include retail and wholesale trade as MSME (micro, small and medium enterprises); meaning thereby extending to them the benefit of priority sector lending under RBI guidelines. In the year 2017, Retail and Wholesale trade were left out of the ambit of MSME, now they have been reinstated in this category.
Minister of MSME and Road Transport and Highways Shri Nitin Gadkari announced on 2nd July, 2021, the revised guidelines for MSMEs with inclusion of Retail and Wholesale trades as MSMEs. In a Tweet, he said under the leadership of PM Shri Narendra Modi Ji, we are committed to strengthening MSME and making them engines for economic growth. He said the revised guidelines will benefit 2.5 Crore Retail and Wholesale Traders.
So, with the revised guidelines, the Retail and Wholesale trades will now be allowed to register on Udyam Registration Portal.