New Delhi, Nov. 15 -- Several representatives from the Micro, Small, and Medium Enterprises (MSMEs) have strongly condemned the Centre's proposed move to change the definition of the later based on a company's turnover instead of investments in plant and machinery.
According to media reports, Laghu Udyog Bharti (LUB) has said that there won't be any difference between traders and manufacturers, if the definition will be change on turnover basis and not on investments in plant and machinery.
''The benefits for the MSME sector will go to both manufacturing and traders. In such a scenario, manufacturers would not want to take the pain to do business. People who want to set up their units will be discouraged," says Janak Bhatia, President, La...