According to the MSME Website and information. a company in which the investment in Plant and machinery (P & M ) is under one (1) crore rupee is termed as a Small Scale Industry (SSI). The structure of an SSI can be in any form ie. Sole proprietorship, LLP, LLC, Single person, Pvt. Ltd etc.
Although it is not mandatory to register a SSI through any state or central Govt. agency, it is always beneficial to do so. There are lots of exemptions and benefits provided to MSMEs by State and the private Government which can only be availed once registered with any affiliated government body. Small scale entrepreneurs should register themselves with State Directorate / DIC / Commissioner of Industries.
There are various agencies and organization started by the Government to promote MSME industry. These are the bodies responsible for promoting MSME entrepreneurship in India. Each one is mentioned with a detail about the vertical it operates in.
The Ministry has established three National Entrepreneurship Development Institutes which are engaged in development of training modules, undertaking research and training and providing consultancy services for entrepreneurship development in the SSI sector.
India has emerged as one of the major power in India. The significant advantage which India has in the form of growing economy needs to be supported through development of Small Scale Industries. India as a technology loving country should encourage the promotion of SME sector in India, which marks a major shift in promoting India as a Manufacturing nation. With the use of modern Industry, entrepreneurship and technological innovation, soon India will position itself as a major manufacturing hub.
To promote India as a manufacturing hub, the development of small scale industries as it happened is Europe & England has to take place. This can be done through promotion of entrepreneurship through policy implementation. The environment has to be made favorable and the processes easy for entrepreneurship to flourish in India. Seeing to that the Government has provided highest preference to the MSME sector. There are different ways in which Govt. provides support to Small scale industries as mentioned above. But one of the most important forms of Policy favor the Government has done is in the form of Tax concessions and exemptions of direct and indirect taxes on Small scale Industries.