After the Central government announced revised guidelines for MSMEs with the inclusion of Retail and Wholesale trades as MSMEs, Prime Minister Narendra Modi on Saturday termed it a 'landmark' step and said that the move would help boost traders' business and would also give them various benefits.
"Our government has taken a landmark step of including retail and wholesale trade as MSME. This will help crores of our traders get easier finance, various other benefits and also help boost their business. We are committed to empowering our traders," PM Modi tweeted.
Union Minister of MSME and Road Transport and Highways Nitin Gadkari on Friday announced revised guidelines for MSMEs with the inclusion of Retail and Wholesale trades as MSMEs.
In a Tweet, he said under the leadership of PM Narendra Modi, the Centre is committed to the strengthening of MSME and make them engines for economic growth.
Gadkari said the revised guidelines will benefit 2.5 crore Retail and Wholesale Traders. He said Retail and wholesale trade were left out of the ambit of MSME, now under the revised guidelines, retail and wholesale trade will also get the 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.