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Retail and Wholesale Trades come under MSMEs

  • 03 Jul 2021

On 2nd 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.