Retail and wholesale services included in MSME definition

New Delhi, Jul 2 (KNN) Union Minister of Micro, Small and Medium Enterprises (MSMEs) Nitin Gadkari on Friday announced revised guidelines for MSMEs with inclusion of Retail and Wholesale trades as MSMEs.

Taking to the micro-blogging site twitter, the Minister said, ''Under the leadership of PM Narendra Modi Ji, we are committed to strengthening of MSME and make them engines for economic growth.''

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

With the revised guidelines the Retail and wholesale trades will now be allowed to register on Udyam Registration Portal, an official statement said.