Cabinet meeting decisions - MSME definition: Entities with up to Rs 250 cr turnover, excluding exports, to be medium enterprises
As per the new changes, businesses with investment of less than Rs 1 crore and turnover of Rs 5 crore would be classified as micro enterprises. Under the existing criteria, a company with investment of less than Rs 25 lakh in the manufacturing sector and less than Rs 10 lakh in the services sector were considered micro enterprises.
Union Cabinet on Monday announced that entities with turnover up to Rs 250 crore or investment up to Rs 50 crore will qualify as medium enterprises, Photo: Reuters