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Micro, Small and Medium Enterprises Development (MSMED) Act, 2006
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About — Micro, Small and Medium Enterprises Development (MSMED) Act, 2006
The Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 is an Indian law that defines MSMEs and gives them priority in procurement, credit and technology support. It creates a statutory framework to protect MSME interests and settle disputes. For example, firms investing up to ₹10 crore qualify as small enterprises and receive a 30 % reservation in public contracts.