Micro, Small, and Medium Enterprises (MSMEs) play a crucial role in the nation’s overall development and serve as the backbone of the economy, an official said on Thursday.
It is essential that the benefits of various schemes launched by the Central and State governments to reach at the grassroots level, stated Dilip Swami, Managing Director, Maharashtra State Seeds Corporation.
He was speaking at the inauguration of a two-day ‘Vendor Development Program’ organized for MSMEs in Akola district by the Development and Facilitation Office (Nagpur) of the Union Ministry of Micro, Small and Medium Enterprises.
The Micro, Small and Medium Enterprises Development Act, 2006, implemented to foster the promotion, development, and competitiveness of MSMEs, provides a legal framework for enterprises in both manufacturing and service sectors, said Regional Director (MSME Development Office) V R Shirsat.
Shirsat stated that this Act plays a vital role in the classification of enterprises, facilitating access to credit, and ensuring timely payments.
Published on August 7, 2026