New Delhi: Union Minister of MSME and Road Transport and Highways Nitin Gadkari on Friday announced revised guidelines for MSMEs with inclusion of Retail and Wholesale trades as MSMEs.
The move is expected to benefit 2.5 crore retail and wholesale traders as they will get access to priority sector lending as per the RBI guidelines.
Gadkari said that the 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.