MSMEs or Micro, Small and Medium Enterprises : New definition and other details [COVID-19 Special Economic Package]

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Under the new definition, the distinction between manufacturing and services enterprises has been eliminated. The investment criteria for such enterprises have been revised upwards, while an additional criterion of turnover has been introduced.

Existing and Revised Definition of MSMEs

Content Source- https://pib.gov.in/PressReleasePage.aspx?PRID=1623585

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Ministry of MSME gears up to implement the New Norms of classification of MSMEs
:New definition and criterion notified; will come into effect from 1st July, 2020

Gazette notification definition and criteria of MSMEs.pdf (49.7 KB)

Source- https://pib.gov.in/