MSME Development Act

The MSME Development Act is a law in India designed to promote and support Micro, Small, and Medium Enterprises (MSMEs). It provides a legal framework to facilitate their growth by offering easier access to credit, technology, and markets. The act aims to improve the competitiveness of these businesses, protect their interests, and create employment opportunities. By doing so, it helps foster inclusive economic development and ensures MSMEs are integrated into the broader economy, contributing to national growth and innovation.