The Micro, Small, and Medium Enterprises (MSME) sector forms the backbone of India's economic growth and employment. It comprises businesses that typically operate on a small scale — whether in manufacturing, service, or trading sectors — yet collectively contribute about 40% of India's GDP and nearly 45% of total employment. Recognizing their significance, the MSME Development Act of 2006 was enacted to promote their growth, competitiveness, and ease of operations.

At Delhi NCR Lawyer, we specialize in guiding businesses through the MSME registration process, securing benefits under various schemes, and addressing legal issues related to their operations. Our team comprises lawyers, financial experts, and policy analysts who stay up-to-date with frequent policy modifications and incentives that the government announces for MSMEs.

- Definition and Criteria: As per MSME Development Act, the criteria for classifying businesses into micro, small, or medium are based on their investment in plant, machinery, or equipment and annual turnover:

•       ~ Micro: investment up to ₹1 crore and turnover up to ₹5 crore.
•       ~ Small: investment up to ₹10 crore and turnover up to ₹50 crore.
•       ~ Medium: investment up to ₹50 crore and turnover up to ₹250 crore.

- Benefits of MSME Registration: Registration under MSME (also called Udyam Registration) brings numerous benefits, including:

      ~ Easy Access to Credit: MSMEs are eligible for collateral-free loans under schemes like CGTMSE (Credit Guarantee Fund Scheme).

      ~ Priority Sector Lending: Banks are mandated to lend a certain percentage of their portfolio to MSMEs.

      ~ Subsidies and Incentives: MSMEs can apply for subsidies on technology upgradation, marketing, and intellectual property registration.

      ~ Protection under MSME Act: The Act provides for timely payments from buyers, adding interest if payments are delayed, thereby protecting MSMEs from financial stress.

      ~ Registration of Trademark and Patent: MSMEs enjoy reduced fees for filing trademarks and patents.

      ~ Other Benefits: Concession in electricity bills, exemption from direct taxes for certain years, and easier compliance procedures.

- Our Services — MSME Support: At Delhi NCR Lawyer, we:

      ~ Prepare and submit your Udyam registration application quickly and accurately.

      ~ Provide legal counsel on incentives and subsidies available under MSME schemes.

      ~ Handle compliance-related matters, from filing annual reports to addressing disputes over delayed payments.

      ~ Support you in securing benefits under central and state schemes tailored for MSMEs.

      ~ Provide representation if you need to pursue recovery of dues from buyers under the MSME Act's facilitation council.