Yesterday June 2nd 2021 is always going to be remembered as a great day for the Indian retail segment. This was the day when retailers and traders are officially included in the MSME ecosystem. Minister of MSME and Road Transport and Highways Shri Nitin Gadkari announced revised guidelines for MSMEs with the inclusion of Retail and Wholesale trades as MSMEs. In a Tweet he said under the leadership of PM Shri Narendra Modi Ji, we are committed to the strengthening of MSME and make them engines for economic growth. Shri Gadkari said the revised guidelines will benefit 2.5 Crore Retail and Wholesale Traders. He said Retail and wholesale trade were left out of the ambit of MSME, now under the revised guidelines, retail and wholesale trade will also get the benefit of priority sector lending under RBI guidelines.
With the revised guidelines the Retail and wholesale trades will be now be allowed to register on Udyam Registration Portal.
We at SMEStreet are excited to welcome this development and would like to express our positive hopes for the industry that this decision will catalyse growth in the retailers segment. In this respect, we are inviting comments and suggestions from the industry that may shape up industry’s stand and suggest the best possible roadmap for the Indian MSME retailers segment.