Retail and Wholesale Trades come under MSMEs

• 03 Jul 2021

On 2^nd July 2021, the Minister of MSME and Road Transport and Highways Shri Nitin Gadkari has announced revised guidelines for MSMEs with inclusion of Retail and Wholesale trades as MSMEs.

• This will strengthen MSMEs and make them engines for economic growth.

Benefits for the Retail and Wholesale Traders

• Currently, 95 per cent of the retail industry in the country is MSMEs, and this move is set to benefit 13-14 million retailers in India.
• Retail and wholesale trade will get benefit of priority sector lending under RBI guidelines.
• They will be now allowed to register on Udyam Registration Portal.