On this very special day
dedicated to “Micro, Small And Medium-Sized Enterprise”, India promotes innovation,
creativity and sustainable working in the companies. This blog will enlighten
you about different enterprises and how it helps in achieving sustainable
Meaning of micro, small and
medium-sized enterprise? The definition of micro-small and medium-sized business
differs from country to country. In India it is:
1. Micro-enterprise: In a manufacturing sector,
Investment in Plant & Machinery does not exceed twenty-five lakh rupees.
In the service sector, investment in equipments does not exceed 10 lakh
2. Small Enterprise: In a manufacturing sector,
Investment in Plant & Machinery is more than 25 lakh but does not exceed 5
crore rupees. In the service sector, the investment is more than 10 lakh rupees
but does not exceed two crore rupees.
Medium-sized enterprise: In a manufacturing
sector, Investment in Plant & Machinery is more than 5 crore rupees but does
not exceed 10 crore rupees. In the service sector, the investment in equipments
is more than 2 crore rupees but does not exceed 5 crore rupees.
UN declared this day: The UN General Assembly
held on the 6th April 2017 in its 74th Plenary acknowledged 27th June as
Micro, Small and Medium-sized Enterprises Day, identifying the use of Micro,
Small and Medium-sized Enterprises to achieve sustainable development goals and
to promote innovation, creativity and sustainable work for everyone.
Celebration in India: The Ministry of Micro
Small & Medium Enterprises (MSME) is organizing a National Conclave (Udyam Sangam)
on 27th June 2018 on the occasion of UN MSME Day. The intent of the Conclave is
to encourage dialogue and partnership among various stakeholders of the MSME
ecosystem and for promoting innovation and knowledge sharing on MSME related
MSME contribute to
achievement of the sustainable development goals: Micro-, small and medium-sized
enterprises are very important in achieving the Sustainable Development Goals,
particularly in promoting innovation, creativity and decent work for all. Efforts
to improve access to finance for SMEs across key sectors of national economies
are an important element of the implementation of the Sustainable Development Goals
(SDGs). SDG targets 8.3 and 9.3 call for enhancing the access of SMEs to
financial services. In addition, SMEs are an important element in the
implementation of SDG 8 (decent work and economic growth) and SDG 9 (industry,
innovation and infrastructure).
It is a great source of
employment: Since 2017, Micro-, small and Medium-sized businesses celebrate their day
in recognition of their work in local and global economies. These enterprises,
which generally employ fewer than 250 persons, are the support of most
economies worldwide and play a vital role in developing countries.
MSME Act, 2006: MSME are classified into 2 Categories:
– As per
the first schedule to the industries (Development and Regulation) Act, 1951,
the Manufacturing enterprises defined in terms of investment in Plant &
Machinery, are those enterprises that are engaged in the manufacture or
production of goods for any specific industry
Service Enterprises – Defined in terms of
investment in equipment, service enterprises are those enterprises which are
engaged in providing or rendering services
How to Obtain MSME
Certificate: The Government of India have specifically made an Act for Micro, Small
& Medium Enterprises. The Micro, Small & Medium Enterprises Development
Act, 2006 is only applicable to those enterprises which deal in Manufacturing
and Service sector.
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