Related Keywords: based on annual turnover, classified under micro, made on plant and machinery, MSMEs, not investments, Small and Medium enterprises, Textile manufacturing units, Tirupur knitwear cluster
Textile manufacturing units in Tirupur knitwear cluster to get classified under micro, small and medium enterprises (MSMEs) based on the annual turnover, and not on the investments made on plant and machinery.
As per the new classification, the units with annual turnover less than Rs. 5 crore would be termed ‘micro enterprise’, the units with annual turnover of more than Rs. 5 crore and less than Rs. 75 crore would be put under ‘small enterprise’ category, and the units with turnover between Rs. 75 crore and Rs. 250 crore would be classified as ‘medium enterprise’.
