MSMEs are complementary to large industries as ancillary units and this sector contributes significantly in the inclusive industrial development of the country. The MSMEPC is registered under udyam registration of MSME department, Government of India. The Council will be working in close association with the Ministry to assist the MSME units in their efforts.
The Micro, Small and Medium Enterprises (MSME) sector has emerged as a highly vibrant and dynamic sector of the Indian economy over the last five decades. It contributes significantly in the economic and social development of the country by fostering entrepreneurship and generating largest employment opportunities at comparatively lower capital cost, next only to agriculture.
What is MSME
Investment in Plant and Machinery or Equipment: Not more than Rs.1 crore and Annual Turnover ; not more than Rs. 5 crore
Investment in Plant and Machinery or Equipment: Not more than Rs.10 crore and Annual Turnover ; not more than Rs. 50 crore
Investment in Plant and Machinery or Equipment: Not more than Rs.50 crore and Annual Turnover ; not more than Rs. 250 crore
Dr E Muthuraman (Chairman)
MSME Promotion Council Chairman Shri Dr. E. Muthuraman has welcomed the much-awaited Foreign Trade Policy from the Commerce Ministry under the guidance of Hon’ble Prime Minister Shri Narendra Modi Ji and Commerce and Industry Minister Shri Piyush Goyal Ji, which broke the traditional Five-Year policy lasting term and adopted the ‘Long Term’ focus for the policy, giving a visionary initiative to our country.
Overall, the research indicates that a variety of factors, including human resource management, access to capital, technology adoption, entrepreneurship skills, and infrastructure, have an impact on the growth and development of MSMEs in India.
By creating jobs, MSMEs help to reduce unemployment rates and stimulate economic growth. Additionally, entrepreneurship drives innovation and encourages the creation of new industries and markets, leading to further job creation and economic development. Secondly, MSMEs are critical to economic growth.