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Udyam registers over 1.5 lakh kirana stores as MSME since 2021 guidelines

Updated: Aug 08, 2022 07:35:42am
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Udyam registers over 1.5 lakh kirana stores as MSME since 2021 guidelines

New Delhi, Aug 8 (KNN) Ever since the government revised MSME guidelines in 2021, total 1,58,319 kirana stores across India have chosen to become a MSME through Udyam registration so far.

This information was shared last week by Minister of State for MSMEs Bhanu Pratap Singh Verma in the Lok Sabha.

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The changes announced by the previous MSME Minister Nitin Gadkari in July 2021 made inclusion of retail and wholesale trades under the MSME definition to benefit 2.5 crore retail and wholesale traders under priority sector lending (PSL) by banks.

Highlighting the significant of it, MoS MSME said that MSME Ministry included retail and wholesale trades as MSMEs to increase the registration of kirana stores.

“However, benefits to retail and wholesale trade MSMEs are to be restricted to Priority Sector Lending only,” he added.

Last December MSME Minister Narayan Rane had informed that as of November 2021 5.33 lakh wholesale and retail trade registrations on the Udyam portal were recorded since July 2021.

The portal had recently crossed the 1 crore registration mark including MSMEs and other businesses of which nearly 96 lakh were micro, 3.98 lakh were small enterprises, and 38,152 were medium businesses.  (KNN Bureau)

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