THE GOA MSME
CONCLAVE 2021

22nd October 2021 - 2.45PM TO 6PM

VIRTUAL EVENT

About MSME

Micro, Small & Medium Enterprises

India’s Micro, Small and Medium Enterprises (MSME) sector has transformed into a dynamic and vibrant sector of the economy over the last fifty years.

With a vast network of around 30 million units, India’s MSME sector generates employment for about 70 million, enables manufacturing of over 6000 products, thereby contributing to around 45% of output and about 40% of exports, directly and indirectly.

The sector has contributed immensely to entrepreneurship development especially in rural and semi urban areas across the nation by providing the people a sustainable source of employment. 

MSMEs have a lower capital-output and capital-labour ratios as compared to large-scale industries, hence are in a better position to fulfil growth and employment objectives.

What is MSME? 

MSME means Micro, Small, and Medium Enterprises. As per the Micro, Small, and Medium Enterprises Development (MSMED) Act in 2006, there exists two divisions.

On July 1, 2020, a revised classification of MSMEs under the MSMED Act 2006 came into effect, with the intent to boost business across the country.

The new classification of MSME will be based on annual investments and turnover in the equipment / machinery / plant  irrespective of whether they belong to the manufacturing or the service sector.

Micro

Small

Medium

Investment not more than Rs. 1 crore and turnover upto Rs. 5 crore.

Investment not more than Rs. 10 crore and turnover upto Rs. 50 crore.

Investment not more than Rs. 50 crore and turnover upto Rs. 250 crore.

Manufacturing Enterprises

Micro

Small

Medium

Investment (in plant and machinery) not more than Rs. 1 crore and turnover upto Rs. 5 crore.

Investment (in plant and machinery) not more than Rs. 10 crore and turnover upto Rs. 50 crore.

Investment (in plant and machinery)not more than Rs. 50 crore and turnover upto Rs. 250 crore.

Service Enterprises

Micro

Small

Medium

Investment (in equipment) not more than Rs. 1 crore and turnover upto Rs. 5 crore.

Investment (in equipment) of Rs. 10 crore and turnover upto Rs. 50 crore.

Investment (in equipment) not more than Rs. 50 crore and turnover ranging between Rs. 50 crore to Rs. 250 crore.

Subscribe to Newsletter

Copyright © 2020 Goa Prism | Powered by Creative Concept Media