WHAT IS MSME's ?

MSME 

The MSME's stands for "micro, small and manufacturing enterprises" development act 2006 is the Act of parliament of India. 

According to that Industries are divided into two types :-

1. Manufacturing Industries

2. Services Industries 

1.Manufacturing Industries : It is basically a term which is based on the INPUT and OUTPUT . any firm or organization in which production is going on for any product , is called as the manufacturing unit or manufacturing industry.

And one of the major part of manufacturing unit is the process. That means when any type of input('raw materials') is giving to the workers or machines they do some work on that to get the required output or required product , So this is known as the process.

Here is the representation of important step which involves in the manufacturing unit.

2. Services Industries : The service Industries are the industry who provides any type of service to the businesses or directly to the consumer . 

As we know financial services , restaurant services , tourist services etc.

So , these type of industries comes under the 'service industries'.