Retailers and wholesalers again under the purview of MSME, the government withdrew the four year old decision

The government has withdrawn a decision taken four years ago related to MSMEs.

The government has again included retailers and other wholesale traders in the purview of MSME. The government had in 2017 issued a gazette notification to exclude wholesale and retail trading activities from MSMEs. Earlier they used to come under the purview of MSMEs. But once again by bringing them under the purview of MSME, the government has withdrawn its old decision. Retail and wholesale business organizations have been demanding for the last four years to bring their business activities back under the MSME sector. Now the government has listened to their demand.

Nitin Gadkari announced by tweeting

Announcing this in a tweet, MSME Minister Nitin Gadkari said, “Under the leadership of Prime Minister Narendra Modi, we are committed to strengthen MSMEs. We are committed to make it the engine of economic growth. In this regard, 2.5 crore retail and wholesale traders will benefit from the revised guidelines of the government.

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Retail and wholesaler organizations expressed happiness

After this amendment, retail and wholesale traders will be able to register themselves on the Udyam registration portal. Retailers Association of India (RAI) CEO Kumar Rajagopalan said that trade organizations have reacted positively to this announcement of the government. He called it a historic decision and said that this will further strengthen the retail business and it will grow. Confederation of All India Traders (CAIT) National President and BC Bharti and General Secretary Praveen Khandelwal said that this will enable retail and wholesale trade to get loans from banks and financial institutions. Banks and financial institutions will provide necessary funds by keeping them in the priority sector. The government has given many reliefs to the MSME sector facing problems due to the Corona epidemic. On behalf of banks and financial institutions, emphasis is being laid on providing them funds continuously. The government’s emphasis on funding the MSME sector is because a large number of people have got employment.