Change in the basis of classifying micro, small and medium enterprises from investment in plant & machinery
The Micro, Small, and Medium Enterprises (MSME) sector is widely recognized as the backbone of the Indian economy. It significantly contributes to employment generation, exports, and the overall GDP. Traditionally, MSME classification was based on investment in plant and machinery or equipment. However, the Government of India brought a paradigm shift by redefining MSME classification […]