The Minister of MSME and Road Transport and Highways has announced revised guidelines for MSMEs vide press release dated July 02, 2021. The guidelines have included Retail and Wholesale trades as MSMEs. The revised guidelines aim to benefit 2.5 Crore Retail and Wholesale Traders. Under the revised guidelines, the retail and wholesale trade will also get benefit of priority sector lending under RBI guidelines.
As a result, the Retail and wholesale trades will now be allowed to register on Udyam Registration Portal.
*Tanvi Singh, Editorial Assistant has put this story together.