Special Correspondent

New limit is Rs.5 crore under Micro, Small and Medium Enterprises Development Act

TIRUVANNAMALAI. The investment ceiling for eligibility for registration as small scale manufacturing enterprises has been raised from Rs. 1 crore to Rs.5 crore under the Micro, Small and Medium Enterprises Development (MSMED) Act 2006.

According to a press release issued by the Tiruvannamalai Collector Satyabrata Sahoo, manufacturing enterprises which invest in machinery worth up to Rs.25 lakh would be registered as micro enterprises, those that invest in machinery worth above Rs.25 lakh and up to Rs.5 crore as small enterprises and those that invest in machinery worth above Rs.5 crore and up to Rs.10 crores as medium enterprises under the MSMED Act 2006.

As far as service enterprises are concerned, those enterprises that invest in machinery worth up to Rs.10 lakh would be registered as micro enterprises, those that invest in machinery worth above Rs.10 lakh and up to Rs.2 crore as small enterprises and those that invest in machinery worth above Rs.2 crore and up to Rs.5 crore as medium enterprises.

Enterprises which invest in machinery worth up to Rs.5 crore have been requested to submit Memoranda of Understanding with the General Manager, District Industries Centre, Tiruvannamalai and obtain the SME acknowledgement. Enterprises investing above Rs.5 crore and up to Rs.10 crore have been requested to approach the Commissioner of Industries and Director of Industries and Commerce, Chepauk, Chennai-600005.

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