PNGME - Revolution in the MSME Sector.
MSME stands for Micro, small and medium Enterprises. The definition of the term is dependent on the country in which it is being operated. However, MSME is defined by number of employees, sales turnover and the asset size. These form the core components which define the grounds upon which enterprises are regarded as micro, medium or small scale. The relationship between income data and the population size of a country is considered key when attempting to define what MSME represents in such country. This does not in any way, signify a relationship between income level and the number of definitions such country has but helps to ascertain the varying degree of definition. Since definition is diversified, MSME is characterized by ascertaining the country specific issues and regional consideration. Some countries have their definitions backed up by policies and laws which aim to strengthen the legal and contractual status of MSMEs. We can therefore deduce, that this term is used