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July 2, 2021

Government announces inclusion of Retail and Wholesale trades as MSMEs

by CA Shivam Jaiswal in Corporate Law

Government announces inclusion of Retail and Wholesale trades as MSMEs

Minister of MSME and Road Transport and Highways Shri Nitin Gadkari today announced 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 of MSME and make them engines for economic growth. Shri Gadkari said the revised guidelines will benefit 2.5 Crore Retail and Wholesale Traders. He said Retail and wholesale trade were left out of the ambit of MSME, now under the revised guidelines, retail and wholesale trade will also get benefit of priority sector lending under RBI guidelines.

With the revised guidelines the Retail and wholesale trades will be now be allowed to register on Udyam Registration Portal.

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