What is MSME? How are they defined
Micro-Small and Medium Enterprises (MSMEs) are small sized or small scale business entities that are classified as per their size of investments. These small and medium business entities contribute to employment, production, export, innovation, technology, social development of the economy of the country. They contribute a significant part in the economy by generating employment of unskilled and semi-skilled population, playing role in exports of goods and services, increasing the production in manufacturing sector and acting as a support to large industries by supplying raw material, basic goods, finished parts and components. The MSMEs are classified with respect of investments in plant and machinery, in case they operate in the manufacturing sector, and on investment in equipment in case of operations in service sector.