PM Modi calls inclusion of retail, wholesale trade as MSMEs ‘landmark’ step

After the Central government announced revised guidelines for MSMEs with the inclusion of Retail Wholesale trades as MSMEs, Prime Minister Narendra Modi on Saturday termed it a “landmark” step said that the move would help boost traders business would also give them various benefits.

“Our government has taken a landmark step of including retail wholesale trade as MSME. This will help crores of our traders get easier finance, various other benefits also help boost their business. We are committed to empowering our traders,” PM Modi tweeted.

Union Minister of MSME Road Transport Highways Nitin Gadkari on Friday announced revised guidelines for MSMEs with the inclusion of Retail 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 make them engines for economic growth.

Gadkari said the revised guidelines will benefit 2.5 crore Retail Wholesale Traders. He said Retail wholesale trade were left out of the ambit of MSME, now under the revised guidelines, retail wholesale trade will also get the benefit of priority sector lending under RBI guidelines.

With the revised guidelines, the Retail wholesale trades will be now be allowed to register on Udyam Registration Portal.

(Only the headline picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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