August 1, 2020, 3:36 PM

CA Julfesh Shah

CA Julfesh Shah

Medical services of all kinds including hospitals, nursing homes and clinics are eligible for MSME registration and they can avail the benefits that are extended to MSMEs said Nagpur chartered accountant Julfesh Shah while addressing a webinar on MSME for Medical and Dental Services organized by VSPM, Nagpur. 

Shah further said that as per Section 2(e) of the MSME Development Act 2006 ‘enterprise’ means an industrial undertaking or a business concern or any other establishment, by whatever name called, engaged in the manufacture or production of goods, in any manner, pertaining to any industry specified in the First Schedule to the Industries (Development and Regulation) Act, 1951 (55 of 1951) or engaged in providing or rendering of any service or services. 

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Hence all type of medical services extended by the medical fraternity will qualify to be classified as MSME as per the new Definition w.e.f. 1st July 2020. Udyam registration can be done online by them for getting the MSME registration certificate.

By obtaining the Udyam registration, the enterprises dealing in medical services including dental services and healthcare can avail the applicable benefits extended under MSME. Practicing professionals, who have already obtained the bank loan for setting up hospitals and purchase of machinery, can avail benefits under the STIMULUS Package announced by Government of India. 

Dr Anoop Garg

Dr Anoop Garg

Existing professionals, who have taken the loan from the bank, will get additional loan of 20% with lower interest rate, which varies from 7% to 8% for 48 Months. Shah further said that if a newly qualified medical professional wants to setup a new hospital with purchase of machinery with maximum project cost upto 10 lakhs, then under the CMEGP Scheme announced by Maharashatra Government he can get a collateral free loan as well as back ended subsidy from the government, which varies from 15% to 35% of project cost. 

Also there are other benefits like protection against delay in payments, credit facilitation through bank, subsidy on patent registration upto 50%, technology up gradation support , energy conservation support etc.

Dr Ramkrishna Shenoi

Dr Ramkrishna Shenoi

Shah also advised about the various industrial opportunities that can be explored by the medical fraternity like manufacturing of medical devices including dental products and equipments, pharma sector, recycling of bio-medical waste. 

80% of the medical devices and equipment used in India are imported and most of them from USA and China. To become ‘Atmanirbhar’ India needs to produce medical equipments like CT, MRI, C-Arm, X-Ray, Ultrasound, Cancer diagnostic equipment like PET scan, dental equipment etc., which can prove to be a great opportunity for the medical fraternity. 

While Dr Usha Radke (Dean, VSPM Dental College) delivered the key note address, Dr Anoop Garg, Senior Dentist, chaired the session and Dr Ramkrishna Shenoi coordinated the webinar and proposed vote of thanks.

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