Regulatory reforms seek to help small businesses under global trade pressures
The Ministry of Corporate Affairs (MCA) is considering modifications to relief the compliance burden for micro, small, and medium enterprises (MSMEs), particularly in the wake of recent US-placed trade tariffs, official sources said.
This step is meant to increase the resilience of local industries by establishing a friendlier regulatory environment for MSMEs. Some of the reforms include Companies Act amendments that would simplify certification procedures and eliminate certain compliance obligations for MSMEs. These proposals are in line with some major suggestions in an expert committee report on company law for enhancing ease of doing business. The MCA is also collaborating with the Ministry of MSME to have a coherent strategy in the implementation of the forthcoming reforms.
