Gujarat recently said new micro, small and medium enterprise (MSME) units will no longer be required to take various approvals to begin operations for the first three years.

An MSME unit can start operations after getting an acknowledgement certificate from the state nodal agency by submitting 'declaration of intent', the state government said after a Cabinet meeting.

New MSME units are now exempted from taking various approvals for the first three years. After that they are required to get such approvals within six months.

Chief Minister Vijay Rupani said the new system will ensure ease of doing business and fetch new investments in the MSME sector.

Published On : 04-10-2019

Source : Economic Times