What is the full form of MSME?
MSME stands for Ministry of Micro, Small and Medium Enterprises.
What is MSME?
MSME is a government initiative which was founded on 16 June, 2006. In 2006, an Act was passed known as The Micro, Small and Medium Enterprises Development (MSMED) Act, 2006.
Government of India had set up MSME to help for the growth of small-scale industries.
The contribution of MSME in India's GDP is 29%. It is the backbone of India's economy. In India, out of the total export, 50% comes from MSME.
Classification based on investment
Industries under MSME
- Food processing
- Agricultural inputs
- Chemical & pharmaceutical
- Engineering, Electrical and Electronics
- Electro-medical equipment
- Textiles & Garments
- Meat products
- Sports goods
- Plastic products
- Computer software
MSME is divided into two parts
- Service Enterprises
- Manufacturing Enterprises
Services |
Manufacturing |
| Publishing | Printing |
| Hospital | Medical equipment |
| Restaurant | Ayurvedic product |
| Hotels | Tobacco products |
| Education | Generation of electricity through windmill |
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