New MSME definition includes services sector, shall benefit tourism: Yogendra Tripathi

While the tourism industry was disappointed with the sector not being mentioned in the stimulus package announced by the finance minister, Yogendra Tripathi, Secretary – Tourism, Government of India, has said that the new definition of MSME, which has removed the differentiation between manufacturing and services sector MSMEs, shall benefit tourism as 70-80% of the sector falls under MSME.

“Throughout my tenure, I have been hearing from the industry that 70-80 per cent of the stakeholders in tourism fall under the MSME category. The biggest announcement under Atmanirbhar Bharat programme was pertaining to the MSMEs. Hence, we have clarified to the industry that the biggest announcements are there for them as well. The fact that the differentiation of definition between the manufacturing and the services sector MSME, which has been removed and the caps which have been changed for the services sector MSMEs, like tourism sector MSMEs, shall bring benefits. It’s not just the benefits which have been given, but it also further expands the scope of the tourism industry, to be part of the MSME definition and to take the benefits, which are due under the MSME category of Atmanirbhar Bharat announcements. I believe that the industry has started understanding that because they are now bringing out 1-2 difficult areas wherein the tourism industry may not get the kind of benefits it has been expecting. We are bringing up those difficulties to the appropriate authorities to see if we can resolve them, so that more benefits reach out to the MSME tourism industry,” he said.