Federation of Association of Maharashtra expresses happiness over Central government decision to include traders, retailers in MSME

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The Federation of Association of Maharashtra has expressed happiness after the Central government included Traders / retailers in MSME. They are delighted that Indian government has included small traders and retailers in MSME which will help them to grow more and it will also boost their businesses. It was a long standing demand from retail and trade industry associations.

“Federation of Association of Maharashtra welcomes India government’s decision to include Traders / retailers in MSME , we have been demanding this from last few years and atlas we have been successful in getting the much awaited news from shri Nitin Gadkari ( Minister of MSME)”, said  Jitendra shah ( Sr Vice President).

Nitin Gadkari yesterday announced revised definition for MSMEs. Through a tweet, he announced that the MSME Ministry has issued an order to include retailers and wholesale traders under the MSMEs to extend the benefits of priority sector lending to them.

Gadkari wrote in a tweet, “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.”

Meanwhile, All India Electronics Association (AIEA) welcomes the announcement of restoring the INC Codes 45, 46 & 47 under MSME registration portal UDYAM (formerly known as Udyog Aadhar Memorandum) with limited benefits.

Mitesh Mody, President, All India Electronics Association stated that this
relaxation will ensure timely and smooth flow of credit to wholesale and retail traders. We, hereby, express our gratitude towards Prime Minister Narendra Modi and Union Minister for MSME Nitin Gadkari on behalf of Electronic Fraternity of India.

AIEA along with Chamber of Associations of Maharashtra Industry and Trade – CAMIT was representing since long to restore MSME status for retail and wholesale traders so that it enables Government to frame and notify programs, guidelines for promotion, development of retail and wholesale traders, more particularly after Government of India last year announced INR 20 Lac Crore package to revive Indian economy which was badly hurt due to COVID pandemic. But unfortunately traders couldn’t avail any benefits of the package as they were not being recognised under SMEs and MSMEs ambient, said Modi who is also Secretary, Chamber of Associations of Maharashtra Industry and Trade (CAMIT).

“Small and marginal traders are facing equal hardship due to frequent covid lockdowns and restrictions, hence restoring pre-2017, MSME status of retail and wholesale traders is the need of the hour. Because a healthy wholesale and retail chain is insurance for a healthy economy and inclusive growth,” said Modi.

He further stated that we once again express our gratitude towards PM Modi and Union Minister Gadkari for acceding representations from various trade associations across the country and restoring the MSME status of retail and wholesale trade partially and appeal them to grant all the benefits of SMEs and MSMEs without any discrimination.