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Wholesale, retail trade now in MSME fold

Wholesale, retail trade now in MSME fold SECTIONS Last Updated: Jul 03, 2021, 07:02 AM IST Share Synopsis Minister of MSME, and road transport and highways Nitin Gadkari announced the revised guidelines for MSMEs on Friday. The government has included retail and wholesale trade under micro, small and medium enterprises (MSMEs), in a move that it said would benefit over 25 million retail and wholesale traders Retail and wholesale trade will also get the benefit of priority sector lending under existing Reserve Bank of India rules. Minister of MSME, and road transport and highways Nitin Gadkari announced the revised guidelines for MSMEs on Friday.

Retail, wholesale trade to get MSME status

Retail, wholesale trade to get MSME status IANS 03 July 2021   Noting that retail and wholesale trade were left out of the ambit of MSMEs, Union MSME Minister Nitin Gadkari, in a string of tweets, said: Under the revised guidelines, MSME has issued order to include retail and wholesale trade as MSME and extending to them the benefit of priority sector lending under RBI guidelines.   Under the leadership of PM Narendra Modi, we are committed to strengthening of MSME and make them engines for economic growth. The revised guidelines will benefit 2.5 Cr Retail and Wholesale Traders.   With the revised guidelines, the retail and wholesale trades will be now be allowed to register on Udyam portal.

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