Chandigarh, Oct. 3 -- The Chandigarh Administration is preparing to roll out a dedicated policy for micro, small and medium enterprises (MSMEs) by the end of this year, as part of the Centre's initiative to strengthen the MSME sector under the Raising and Accelerating MSME Performance (RAMP) Scheme. The scheme, supported by the Ministry of MSME and the World Bank, aims to boost competitiveness, improve access to credit and markets, and address long-standing challenges faced by the sector.

At present, Chandigarh has nearly 56,000 MSME units, and industrialists have for long demanded that the city adopt the MSME Act to provide a formal framework for growth.

A senior official from the Industries Department confirmed that the draft policy i...