Surat: SGCCI Welcomes Passage of MSMED Amendment Bill-2026

The bill was passed by the Rajya Sabha on August 3, 2026, and by the Lok Sabha on August 7, 2026. The chamber described it as a significant legal reform for the MSME sector in both the country and South Gujarat. Chamber officials stated that the MSME sector has a large share in South Gujarat, and MSMEs play a crucial role in Surat's textile and other industrial activities.

They expect improvements in cash flow for industries due to timely payments, quick resolution of payment disputes, and strong enforcement. Ashok Jirawala, President of SGCCI, mentioned that the passage of the MSMED Amendment Bill-2026 is an important step for the MSME sector. He noted that about 48 percent of Gujarat's total MSME units are located in South Gujarat.

Given the significant role of MSMEs in Surat and surrounding industrial economies, the new legal provisions are expected to make the business ecosystem more transparent and competitive. He highlighted the long-standing issue of pending payments faced by MSMEs, stating that the new provisions could help legally regulate this problem and ensure timely payments. Ravi Raj Desai, Vice President of SGCCI, stated that timely payments would strengthen the working capital cycle of various industries, including textiles in Surat.