The micro, small and medium enterprises development act, 2006
This Act is enacted to facilitate the promotion, development and enhancement of the competitiveness of the micro, small and medium enterprises and to address the matters connected therewith or incidental thereto. This Act came into force from 16th June, 2006.
Manufacturing enterprises: Enterprises engaged in the manufacture or production of goods are known as manufacturing enterprises and are defined in terms of Investment in plant and machinery and further classified into
Micro Manufacturing Enterprises: The investment in plant and machinery does not exceed Rs.25 lakhs.
Small Manufacturing Enterprises: The investment in plant and machinery is more than twenty five lakh rupees but does not exceed rupees 5 crores.
Medium Manufacturing Enterprises: The investment in plant and machinery is more than rupees 5 crores but not exceeding Rs.10 crores.
Service enterprises: Enterprises engaged in providing or rendering of services are known as service enterprises and are defined in terms of investment in equipment and further classified into:
Micro Service Enterprises: The investment in equipment does not exceed rupees 10 lakhs.
Small Service Industries: The investment in equipment is more than 10lakhs (Rupees Ten lakh) but does not exceeds Rupees 2 Crores.
Medium Service Enterprises: The investment in equipment is more than rupees 2 crores but does not exceed Rupees 5 Crores.
Participants