MSME stands for Micro, Small and Medium Enterprise. MSME or SSI enterprises are the foundation of any economy and are an engine of economic growth, advancing impartial improvement for all. MSME registration or SSI registration online helps businesses avail multiple government subsidies and benefits of MSMED act, MSME Government.
There are small and medium enterprises which fall under SSI/MSME category. MSME stands for Micro, Small and Medium enterprises. Being the backbone of an economy sector, MSME enterprises acts as an engine which helps in the growth of the economy and promoting equitable development. Therefore, to support and promote MSMEs, the Government of India through various subsidies, schemes and incentives promote MSMEs through the MSMED Act. To utilise all the benefits which are offered under MSME act, the enterprise should be registered as MSME with the concerned department.
MSME are classified into two categories:
1. Manufacturing enterprise
2. Service enterprise
They are defined in term of investment in Plant and Machinery/ Equipment as below
| MICRO | SMALL | MEDIUM | |
|---|---|---|---|
| Manufacturing Enterprises | Rs 2,500,000 | Less than Rs 50,000,000 | Less than Rs 100,000,000 |
| Service Enterprises | Less than Rs 10,00,000 | Less than Rs 20,000,000 | Less than Rs 50,000,000 |
