Economics · MSME Regulations
Which of the following is a primary objective of the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 in India?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1To encourage only large enterprises to grow.
- 2To protect MSMEs from unfair trade practices and ensure timely facilitation of payments.✓
- 3To eliminate all legal protections for small businesses.
- 4To limit the ability of MSMEs to participate in international trade.
Correct answer
To protect MSMEs from unfair trade practices and ensure timely facilitation of payments.
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