The Centre is working on next generation reforms for micro, small and medium enterprises (MSMEs) that would include easy registrations, compliances and inspections, to name a few. The move comes at a time when the sector, which is the backbone of the country’s manufacturing and exporting industries and is a major employment creator, is caught in the headwinds of the 50% US tariffs. The move is also in line with the government’s focus on enhancing ease of doing business by lowering the compliance burden. Advertisement

According to sources, the MSME ministry has been undertaking cluster level surveys to understand problems in the sector. Sources note that most challenges now occur in terms of compliances and return filing and there are several hurdles at the local and state level as well.

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