Business Studies · MSME Policies
What was the main purpose behind introducing comprehensive legal frameworks like the MSMED Act in India?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1To centralize all micro-level municipal administration
- 2To promote, develop, and enhance the competitiveness of MSMEs✓
- 3To limit the exposure of domestic small units to foreign markets
- 4To relax and abolish business registration norms completely
Correct answer
To promote, develop, and enhance the competitiveness of MSMEs
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