Q. . With reference to Micro, Small, and Medium Enterprise (MSMEs) consider the following statements:
1.MSMEs are India’s largest employer outside of agriculture.
2.A majority of the manufacturing MSMEs are unregistered.
3.An organization registered as MSME faces less competition in the market.
Which of the statements given above are correct?
Statement 1 and 2 are correct. MSMEs are India’s largest employer outside of agriculture. Almost 86% of the country’s manufacturing MSMEs are unregistered.
Statement 3 is incorrect. Competition is high in the market even for MSMEs. Although by registering as an MSME, the organization gets benefit from the government but this does not reduce the competition in the market.