MSME DepartmentThe Micro, Small & Medium Enterprises (MSMEs) contribute significantly to value addition, employment generation, exports and overall growth and development of the country’s economy. In India itself MSME units are generating maximum employment next to agriculture. The MSME sector is responsible for about 40 per cent of the exports and 45 per cent of the total manufacturing output in the country. Realizing the significance a separate Department of Micro, Small & Medium Enterprises has been created with an objective to facilitate, promote and enhance competitiveness of MSMEs in the state. It is a State Government initiative to rejuvenate, give topmost priority and thrust for facilitating and co-coordinating the growth and development of the MSME sector.
What are Micro, Small & Medium Enterprises?Definitions of Micro, Small & Medium Enterprises In accordance with the provision of Micro, Small & Medium Enterprises Development (MSMED) Act, 2006 the Micro, Small and Medium Enterprises (MSME) are classified in two Classes:
1. Manufacturing Enterprises-he enterprises engaged in the manufacture or production of goods pertaining to any industry specified in the first schedule to the industries (Development and regulation) Act, 1951) or employing plant and machinery in the process of value addition to the final product having a distinct name or character or use. The Manufacturing Enterprise are defined in terms of investment in Plant & Machinery.
2. Service Enterprises:-The enterprises engaged in providing or rendering of services and are defined in terms of investment in equipment.
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