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ARTICLE · 09 OCTOBER 2015

The Micro, Small And Medium Enterprises (Amendment) Bill, 2015

Solomon & Co. Advocates & Solicitors
Solomon & Co. Advocates & Solicitors
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Solomon & Co. Advocates & Solicitors

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The concept of facilitating small and medium enterprises can be traced back to the Industries Development and Regulation Act, 1961.

IndiaGovernment, Public Sector
Michelle Solomon Le Page
Michelle Solomon Le Page

The concept of facilitating small and medium enterprises can be traced back to the Industries Development and Regulation Act, 1961. Under that Act, the government had the power to amend the Act from time to time in order to ensure the development of small and medium enterprises. Subsequently, the Micro, Small and Medium Enterprises Development Act, 2006 was enacted to ensure the promotion and development of small scale industry. It classifies and regulates enterprises as micro, small and medium enterprises. This Act received attention during the "Make in India" campaign of the new government and the Micro, Small and Medium Enterprises (Amendment) Bill, 2015 was introduced in the Lok Sabha on 20 April 2015.

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