The Ministry of Micro, Small and Medium Enterprises (MSME), a branch of the Government of India, is the executive body for the formulation and administration of rules, regulations and laws relating to micro, small and medium enterprises in India.
The Ministry of MSME has two divisions called Small & Medium Enterprises (SME) Division and Agro & Rural Industry (ARI) Division. The SME Division is allocated the work of administration, vigilance and administrative supervision of the National Small Industries Corporation (NSIC) Ltd., a public sector enterprise and the three autonomous national level entrepreneurship development/training originations. The Division is also responsible for implementation of the schemes relating to Performance and Credit Rating and Assistance to Training Institution, among others.
Rural and Khadi Industries
The Khadi and Village Industries Commission (KVIC), established under the Khadi and Village Industries Commission Act of 1956, is a statutory organization engaged in promoting and developing khadi and village industries for employment in rural areas and thereby strengthening the rural economy. This KVIC is a large portion of the efforts of the Ministry of MSME in order to strengthen the employment opportunities of the region.
The statistics provided by the annual reports of Ministry of Small and Medium Enterprises (MSME) shows a rise in the plan amount spent on the khadi sector from ₹1942.7 million to ₹14540 million, and non-plan amounts from ₹437 million to ₹2291 million, in the period from 1994-95 to 2014-2015. The interest subsidies to khadi institutions increased from ₹96.3 million to ₹314.5 million in this period.