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| MSMEs and its Registration in India |
Over the past few
decades, India has become a hub of budding startups and small businesses. With the emergence of the Micro, Small and
Medium Enterprises by the people has made the Indian business sector more
organized and advanced. The government of India has launched the MSME Act, 2006
with the aim to promote business development. The MSME sector contributes to
45% of the total employment in industries and hence, when these small
industries flourish, the economy of the country as a whole flourishes.
