Which of the following statements regarding small scale industries in India is correct?
They are classified based on capital investment in assets.
In India, small scale industries (now part of Micro, Small and Medium Enterprises) have traditionally been defined by the investment limit in fixed assets, i.e. plant and machinery (or equipment), under the MSMED Act, 2006.
A small-scale unit was one whose investment in plant and machinery did not exceed a prescribed ceiling. Since 2020 the MSME definition combines investment with turnover, so turnover alone is not the basis.
The number of workers employed and export volume are not used to classify these units in India.
Hence, small scale industries are classified based on capital investment in assets.
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