Tamil Nadu Chamber of Commerce and Industry (TNCCI) president N. Jegatheesan has hailed the revised inclusion of retail and wholesale traders under micro, small and medium enterprises (MSMEs) announced by the Union Minister of MSME Minister Nitin Gadkari.
In a release, Mr. Jegatheesan said that this inclusion will enable traders to get access to capital, as they have been affected much due to the COVID-19 pandemic induced lockdown. The announcement also allows the retail and wholesale traders to get registered on Udyam registration portal and allows them to avail benefits such as priority sector lending under RBI guidelines.
Several measures announced for the MSME sector over the past year will now be applicable to retail and wholesale traders as well. The traders will now enjoy several other benefits from various other government schemes that are applicable for the MSME category.
Mr. Jegatheesan also urged the Ministry of Commerce and Industry to pass a separate enactment to protect small retailers.
