News Update

Retail, Wholesale Trade To Be Considered In MSME. PM Hails ‘Landmark’ Decision

• ByStartupStory     |    July 3, 2021

Prime Minister Narendra Modi on Saturday described as “landmark” the decision to consider retail and wholesale trade as MSMEs, which enable traders the benefits of priority sector lending, and said the government is committed to empowering this segment.Union minister Nitin Gadkari has made the announcement that the inclusion of retail and wholesale trade under MSMEs (micro, small and medium enterprises) as per which the traders will now get the benefit of priority sector lending under RBI guidelines.                                                                                                                 

In a tweet, prime minister Modi said, “Our government has taken a landmark step of including retail and wholesale trade as MSME. This will help crores of our traders get easier finance, various other benefits and also help boost their business. We are committed to empowering our traders.” Official sources said the move leads to an immediate impact on smaller retailers and wholesalers with businesses up to ₹250 crores of turnover in availing immediate-term finance as part of various schemes announced under the “Atmanirbhar Bharat” program. 

 

 

Follow Startup Story