The Micro, Small and Medium Enterprises Development Act, 2006

The Micro, Small and Medium Enterprises Development Act, 2006 was enacted to provide for the development of micro, small and medium enterprises (MSMEs) in India. The Act defines MSMEs based on their investment in plant and machinery and turnover. The Act provides for the establishment of a National Board for Micro, Small and Medium Enterprises, as well as State-level boards. The Act also provides for various measures to facilitate the growth of MSMEs, including the creation of a single window system for registration, access to credit, and the establishment of a Technology Development Fund and a Marketing Development Fund.