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Micro, Small, and Medium Enterprise (MSME) is the backbone of countries like India because these are the primary contributors to the socio-economic development of the country.
Statistically, India constitutes approximately 6.3 crores MSMEs. Also, the registration of MSME has increased by 18.5% year-over-year (Y-o-Y). Along with this, this sector contributes approximately 29% of GDP by national and international trade.
Additionally, MSME is also known as Small Scale Industry (SSI) and online MSME certificate is termed as UdyogAadhar or LaghuUdyog. Under the online SSI registration, the enterprise entities have classified into various categories as micro/small/medium depending on their investment in a manufacturing business or in a service sector.
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