India, Aug. 7 -- The Government of India has issued a release:
The Micro, Small and Medium Enterprises Development (Amendment) Bill, 2026, was passed by the Lok Sabha on 7th August, 2026, subsequent to its passing by the Rajya Sabha on 3rd August, 2026. The Micro, Small and Medium Enterprises Development Act (MSMED Act) was notified in 2006 and has completed 20 years of its enactment. Over the years, the MSME landscape has witnessed rapid changes due to technological advancements, emergence of IT enabled systems and changing legal landscape, which required that the MSMED Act be amended to facilitate growth of MSMEs. The number of MSMEs registered on Udyam have increased from 1.65 crore as on 01.04.2023 to 9.16 crore now. MSME sector provid...