crores Medium enterprises More than Crores but not exceeding ₹ crores More than ₹ crores but not exceeding ₹ crores The limit of investment in plant and machinery/equipment for manufacturing/ Service Enterprises is notified as under. Commerce - - . . PM .
Supplementary Role MSMEs play a complementary role to serve as a feeder to large scale industries. They supply accessories, spare parts and components to large scale industries. . Establishment of Socialistic Pattern of Society MSME sector contributes towards the establishment of socialistic pattern of society by reducing the concentration of income and wealth.
It enables and empowers people of small means to take up a gainful industrial activity, and thereby helps to achieve equitable distribution of wealth. . Balanced Regional Development By encouraging MSMEs in industrially backward areas of India, balanced development can be achieved across all regions. It will also help greatly in preventing the people from migrating to cities and towns in pursuit of employment.
. Promotion of Self Employment and Self Reliance Spirit MSMEs help to a great deal in developing a class of entrepreneurs. It promotes self employment and a spirit of self reliance in the society, thereby contributing an increase in per capita income or economic development. .
Higher Contribution to Manufacturing and Export MSMEs contribute % to the total manufacturing output and % to the exports from the country. It helps in earning precious foreign exchange in various countries across the world. . Contribution of MSMEs to Indian Economy The MSME Sector contributes about % to Gross Domestic Product (GDP) besides % to the total manufacturing output and % to the exports from the country on the production of more than products.
This Sector consists of million units and provides employment to over crore people. products million units % GDP % export crore employment % manufacturing MSMEs . MSME Sector in Tamil Nadu In Tamil Nadu MSMEs sector produces a wide variety of products in almost all fields. The prominent among them are the textile, electronic products, engineering products, auto ancillaries, leather products,