What is the full form of MSME | MSME full form | full form of MSME | MSME full details

Ministry of Micro, Small and Medium Enterprises, MSME

MSME stands for Ministry of Micro, Small and Medium Enterprises. It's a branch of Indian Government which deals with the formulation and administration of rules, regulations, and laws related with micro, small and medium enterprises in India.

Vision:

Sustainable development of globally competitive micro, small, and medium enterprises as major contributors to the economy of Indian.

Mission:

To promote the development of micro, small and medium enterprises, including khadi, village and coir industries to make new enterprises and generate more employment

Long Term Goal:

To promote manufacturing base in the country by improving the performance of MSME by skill and entrepreneurship development.

Functions:


  • Assistance and credit flow to MSMEs
  • Make MSME competitive
  • Improve manufacturing base through latest technology
  • Promote MSMEs through cluster bases approach
  • Marketing support to MSMEs
  • Skill development and entrepreneurship development training
  • Set up new microenterprises through the Prime Minister's Employment Generation Program (PMEGP)

  • To promote Khadi and Village Industries (KVI) sector and Coir Industry

The turnover and workforce of micro, small and medium sized enterprises vary according to the different countries. In India, under section 7 of the Micro, Small and Medium Enterprises Development (MSMED) Act 2006, Indian government specifies the size of micro, small and medium enterprises on the basis of investment.

Criteria for Manufacturing Enterprises:


  • The Manufacturing Enterprises, where investment in the plant and machinery doesn't exceed Rs. 2,500,000, are termed as Micro Enterprises.
  • The Manufacturing Enterprises, where investment in the plant and machinery is more than Rs. 2,500,000 but less than Rs. 50,000,000, ( 2,500,000 to 50,000,000 ) are termed as Small Enterprises.
  • The Manufacturing Enterprises, where investment in the plant and machinery ranges from Rs. 50,000,000 to Rs. 100,000,000 are specified as Medium Enterprises.

Criteria for Service Enterprises:


  • In the case of Service Enterprises, if the investment in equipment does not exceed Rs. 1,000,000, the enterprise is specified as Micro Enterprise.
  • If the investment ranges from Rs. 1,000,000 to Rs. 20,000,000, the enterprise is specified as Small Enterprise.
  • If the investment ranges from Rs. 20,000,000 to Rs. 50,000,000, the enterprise is specified as Medium Enterprise.


Post a Comment

Please do not add any spam comment