MSME stands for Micro, Small and Medium enterprises. The term is also at times shortened to SME for 'Small and Medium Enterprises'. The recent change in the definition of MSME has now qualified any entity that has an investment up to Rs. 10,000,000 and turnover not more than Rs. 50,000,000 as a micro enterprise. The equivalent figures for small enterprises are Rs. 10,00,00,000 and Rs. 50,00,00,000 and for medium enterprises the corresponding figures are Rs. 50,00,00,000 and Rs. 2,50,00,00,000. Thus, 99% of businesses
now fit under the category of MSME in India.