FICO Thanks Government of India for Passing MSME Development (Amendment) Bill, 2026

Ludhiana, August 11, 2026: The Federation of Industrial & Commercial Organization (FICO) has welcomed the passing of the MSME Development (Amendment) Bill, 2026 by Parliament and thanked the Government of India, Ministry of MSME, Members of Parliament, policymakers and all officials involved for bringing important changes to the MSME Development Act, 2006. FICO thanked Prime Minister Narendra Modi, MSME Minister Jitan Ram Manjhi and MSME Minister of State Miss Shobha Karandlaje for this bill. 
The new amendments will help MSMEs by improving timely payments, faster settlement of disputes, easier registration and simpler compliance.
K.K. Seth, Chairman, FICO, said: “We sincerely thank the Government of India and the Ministry of MSME for this important amendment. After 20 years, the MSME Act has been strengthened. These changes will give more support and confidence to MSMEs and help them grow. We appreciate the Government for listening to the concerns of the MSME sector.”
Gurmeet Singh Kular, President, FICO, said: “Delayed payments are one of the biggest problems faced by MSMEs. The new provisions for TReDS and faster settlement of payment disputes are a welcome step. Better and faster payments will improve the cash flow of MSMEs and help them run their businesses smoothly. We thank the Government for taking this important step.”
Manjinder Singh Sachdeva, General Secretary, FICO, said: “The new amendments will make many processes easier for MSMEs. Simplified registration, easier classification and faster dispute resolution will reduce the burden on small businesses. We especially welcome the strengthening of the MSE Facilitation Councils and the steps for recovery of delayed payments. FICO appreciates the Government for making the MSME system simpler and more practical.”
Rajeev Jain, Senior Vice President, FICO, said: “We welcome the decision to replace criminal punishment with graded monetary penalties for certain minor procedural mistakes. Entrepreneurs should be encouraged to do business, create jobs and invest in growth. At the same time, strong action against delayed payments is necessary. These amendments are a positive step towards improving the ease of doing business for MSMEs.”
FICO thanked the Government for taking forward the agenda of Ease of Doing Business for MSMEs and expressed hope that the new provisions will be implemented quickly and effectively across the country.