The legal definition of SME in India

Small and mid-sized enterprises (SMEs) are businesses that maintain revenues, assets, or a number of employees below a certain threshold. Each country has its own definition of what constitutes a small and medium-sized enterprise (SME). Small and mid-size enterprises (SMEs) play an important role for generating employment for the talented minds of the country. This leads to metamorphosis of the country to an innovative and trailblazing path to success. Governments regularly offer incentives, including favorable tax treatment and better access to loans, to help them keep in Business.