Nearly 3.11 crore SMEs (small and medium enterprises) contribute 45 per cent to industrial output and 8 per cent the GDP (gross domestic product).
The current policy defines a micro enterprise as one with investment in plant & machinery of up to Rs. 5 lakh, small enterprise Rs. 5 lakh to Rs. 5 crore and small enterprise as one with such investment at Rs. 5 crore to Rs.10 crore.
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