Our Target MSMEs

MSME is initiated and managed under the Ministry of MSME (MoMSME) are entities engaged in the production, manufacturing, processing, or preservation of goods and commodities. It was introduced by the Government of India in agreement with the Micro, Small & Medium Enterprises Development (MSMED) Act, 2006 MSME sector is considered the backbone of the Indian economy and contributes nearly accounts for 27% of the country’s GDP. It primarily works for the development of people from backward and rural areas. As per the official data as of 31st April 2022, there are presently more than 6.33 crore MSMEs that employ approx. 11.10 people across the nation. New classification of MSME has been announced by Govt. of India on 13th May 2020, MSMEs classified as 1. Micro Enterprise: Annual Turnover less than 5 crores of business or enterprise, which has invested less than 1 crore 2. Small Enterprise: Annual Turnover of less than 50 crores of business or enterprise, which has invested less than 10 crores 3. Medium Enterprise: Annual Turnover of less than 100 crores of business or enterprise, which has invested less than 20 crores MSME schemes offered by financial institutions and initiated by the Indian Government are mentioned below: • CGTMSE: Credit Guarantee Fund Trust for Micro and Small Enterprises • CLCSS: Credit Linked Capital Subsidy Scheme • Credit Guarantee Scheme • MUDRA Yojana under PMMY • National Small Industries Corporation (NSIC) Subsidy • PMEGP: The Prime Minister Employment Generation Programme • PMRY: Prime Minister’s Rozgar Yojana • PSB Loans in 59 minutes • Standup India • Startup India