[Updated] MSME Sector in India – Significance, Challenges & Initiatives

Reading Time: 5 mins Updates* What is MSME? MSME Development (MSMED) Act, 2006 classifies MSMEs based on the Investment in plant and machinery for manufacturing units Investment in equipment for service enterprises. But in February 2018, the Union Cabinet approved the amendment to MSMED Act, 2006 for classifying MSMEs from current investment in plant and machinery criteria to annual …