Industry Law

MSME Registration

MSME stands for micro, small and medium enterprises and any enterprise that falls under any of these three categories. MSME enterprises are the backbone of any economy and are an engine of economic growth, promoting equitable development for all. Therefore, to support and promote MSMEs, the Government of India through various subsidies, schemes and incentives promote MSMEs through the MSMED Act. To avail the benefits under the MSMED Act from Central or State Government and the Banking Sector, MSME Registration is required.

Micro, Small and Medium sized enterprises in both the manufacturing and service sector can obtain MSME Registration under the MSMED Act. Though the MSME registration is not statutory, it is beneficial for business at it provides a range of benefits such as eligibility for lower rates of interest, excise exemption scheme, tax subsidies, power tariff subsidies, capital investment subsidies and other support.

Factory License Registration

over the years, manufacturing has emerged as one of the high growth sectors in India. Introduction of schemes like “Make in India” has given an adequate boost to the sector to a level that India is expected to become the fifth largest manufacturing country in the world by the end of the year 2020. The manufacturing sector in India has evolved from its earlier stages of industrialization to its current phase of global competitiveness, making it a great location for newer, smaller businesses to manufacture. To set up a factory in India, you need to apply for licenses from the centre and state government. Factory Registration in our country is regulated by the provisions of the Factories Act 1948. Factories Act regulates the working condition in factories and deals with various problems concerning the health, safety, efficiency, and well being of the persons at workplaces. This blog will provide you with an insight into the procedure involved in Factory Registration in India.