Micro, Small and Medium Enterprises
MSME
Beginner Level
India
Entrepreneurship
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Definition
Classification of businesses based on investment and turnover, receiving various government benefits.
Detailed Explanation
Micro: Turnover up to ₹5 crore; Small: ₹5-50 crore; Medium: ₹50-250 crore. MSMEs contribute 30% to GDP and 48% to exports. Udyam Registration is required for benefits.
Example
A garment manufacturer with ₹20 crore turnover qualifies as Small Enterprise under MSME.
Local Context (India)
MSMEs are the backbone of India's economy, providing employment to 11 crore people.
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