What is the New Definition of MSME (micro, small, & medium enterprises)? | Setindiabiz

In this video, we have discussed the new definition of MSME or the Revised definition of MSME
If you haven’t yet heard of the new changes brought by the Government in the definition of micro, small, and medium enterprises, here is a video explaining every aspect of it in great detail! The new definition differs from the previous definition in two primary aspects, the threshold limits and the method of calculating net turnover and investment in plant and machinery. For more information, make sure you watch the complete video!

The new definition of MSME was first introduced when the pandemic hit and ruined the entire economy of India. While the relatively larger businesses somehow managed to get through the difficult times, it was the MSME industry that completely crashed in financial terms. Most small businesses had to shut down due to the lack of investment, sales, income, and profits. Hence, post-pandemic, such businesses were in dire need of support from the government and private investors alike. It was in this background that the Government not only introduced various financially supportive measures for MSME but also revised its definition to make sure that more businesses can avail the benefits of such measures.

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