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Micro, Small and Medium Enterprises (MSMEs) are enterprises classified on the basis of their investment in plant and machinery or equipment and annual turnover. They represent a significant segment of the industrial and service sectors and play an important role in promoting entrepreneurship, employment generation, and balanced economic growth. Micro Enterprises are the smallest category of enterprises with limited investment and turnover. They are generally operated by individual entrepreneurs or small groups with fewer resources and a small-scale production capacity. Small Enterprises have a higher level of investment and turnover compared to micro enterprises and usually employ more workers with better production facilities. Medium Enterprises are larger than micro and small enterprises and have comparatively higher investment, technology, production capacity, and organizational structure while still remaining smaller than large-scale industries. MSMEs possess several special features that enable them to contribute significantly to the economic development of a country. One of the most important features of MSMEs is their ability to generate employment opportunities. They are labour-intensive in nature and ____ _________ ________ ___ _________ ____ __________ ______ ____ _________ ________ ____.
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