SSI and MSME Registration
MSME stands for Micro Small and Medium Enterprises and SSI stands for Small Scale Industries. Most entrepreneurs expect for such a license. By this way the government will be recognized their business. MSME or SSI is the best option for them. MSME or SSI is the best option for them. But people get confused by different names like SSI, MSME or UdyogAadhar.
There is no such difference between SSI or MSME. SSI or Small scale industries have been started to develop small scale industries with emergence of MSMED Act 2006. Small scale industries are those industries which includes manufacturing, providing services, and productions are done on a small scale or micro scale.
As of 2017, total MSME Registration in India is more than 36.2 million. According to the classification of these industries, there are 630.52 lakh micro enterprises, 3.31 lakh small industries and 0.05 medium industries. Of these, 79.63% of units are owned by men and 20.37% by companies are owned by women.
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What is MSME and SSI?
Micro, small and medium enterprises are divided into three different categories. They are listed below:
When it comes to a particular business in the manufacturing sector, a business sets Rs.25 lakh, which comes under micro enterprises. Under the services sector when an industry sets Rs 10 lakh comes under the service sector of Micro enterprises.
More than 25 lakhs of small industries and less than 5 crores have come under the manufacturing sector. And the industry invests more than Rs. 10 lakh and less than Rs. 2 crore under service sector comes under Small enterprises.
Medium level industries are more than 5 crores and fewer than 10 crores comes under the manufacturing sector. And while the industry is investing more than 2 crores and less than 5 crores under services sector comes under Small enterprises.
Small Scale Industries is a type of company that manufactures goods or services with the help of relatively small machines and a few workers and employees. Investment limits for small-scale industries are as follows:
- Investment in plant and machinery for the manufacturing industries should be in the rage of 25 lakhs to 5 crores.
- Investment in plants and machinery should be between 10 lakhs to 2 crores for services industries.