New Delhi, Jul 2 (UNI): The Centre on Friday issued an order to include the retail and wholesale trade under the ambit of Ministry of Micro, Small & Medium Enterprises (MSME) which extends to them the benefit of priority sector under the RBI guidelines.
Taking to Twitter, MSME Minister Nitin Gadkari said the revised guidelines would benefit 2.5 crore retail and wholesale traders.
“Retail and wholesale trade were left out of the ambit of MSME. Under the revised guidelines, MSME has issued order to include retail and wholesale trade as MSME and extending to them the benefit of priority sector lending under RBI guidelines,” Mr Gadkari tweeted.
“Under the leadership of PM Shri Narendra Modi Ji, we are committed to strengthening of MSME and make them engines for economic growth. The revised guidelines will benefit 2.5 Cr Retail and Wholesale Traders,” Mr Gadkari said in another tweet.
Last month, the Finance Industry Development Council (FIDC) wrote a letter to the MSME Minister seeking to include wholesale and retail trade in the list of economic activity allowed for registration as MSME.