MSME

<p>Micro, Small, and Medium Enterprises (MSMEs) are businesses that operate on a relatively smaller scale in terms of investment, production, and workforce, but they play a vital role in a country’s economic growth. In India, MSMEs are classified into micro, small, and medium categories based on their investment and annual turnover. These enterprises are considered the backbone of the economy because they generate large-scale employment, encourage innovation, support rural and semi-urban development, and contribute significantly to GDP and exports. MSMEs operate in both manufacturing and service sectors, ranging from small shops and workshops to growing manufacturing units and service providers. To support these businesses, the government offers various benefits such as loans, subsidies, and easier compliance through Udyam Registration. Overall, MSMEs help promote entrepreneurship, reduce regional imbalances, and strengthen the industrial base of the nation.</p>

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