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Describe the “MSMES”?

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1. The Micro, Small and Medium Enterprises are defined under the MSMED Act 2006. 

2. The enterprises are classified as Manufacturing and Service enterprises based on the investment in plant and machinery and equipment (excluding land and building).

3. Tamil Nadu accounts of 15.07% Micro, Small and Medium Enterprises (MSMEs) in the country (the highest among all States) with 6.89 lakhs registered MSMEs. 

4. Producing over 8000 varieties of product for a total investment of more than Rs32,008 crore. 

5. MSMEs produce a wide variety of products in almost all sectors. 

6. The prominent among them are the engineering, electrical, chemicals, plastics, steel paper, matches, textiles, hosiery and garments sector. 

7. Around 15.61 lakh entrepreneurs have registered, providing employment opportunities to about 99.7 lakhs persons with total investment of Rs. 1,68,331 crore.

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