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. Government of India through various subsidies, schemes and incentives provide support and promote MSMEs, through the MSMED Act. To avail the benefits under the MSMED Act from Central or State Government and the Banking Sector, MSME is required to be registered. Micro, Small and Medium sized enterprises can obtain MSME Registration under the MSMED Act both the manufacturing and service sector. Though the MSME registration is not mandatory, it is advantageous for business at it provides a bundle of benefits such as eligibility for lower rates of interest, excise exemption scheme, tax subsidies, power tariff subsidies, capital investment subsidies and other support. Compliance Advisor can help your business in obtaining MSME Registration to avail such benefits.