Categories: Economy

Government includes Retail and Wholesale Trade in MSME sector

Ministry of Micro, Small and Medium Enterprises has decided to include Retail and Wholesale trade as MSMEs but only for the limited purpose of Priority Sector Lending. This means that these segments of businesses can now take loans under the Priority Sector Lending arrangement under the MSME category. According to the Retailers Association of India (RAI), this will give retail micro, small and medium enterprises (MSMEs) the support they need to survive, revive and thrive.

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These Retail and Wholesale traders can now register on Udyam Registration Portal. It is a portal by the Government of India for the registration of MSMEs.

The registration will be allowed under three categories:

Wholesale and retail trade and repair of motor vehicles and motorcycles.
Wholesale trade except for motor vehicles and motorcycles.
Retail trade except for motor vehicles and motorcycles.

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Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.