Industry and Manufacturing — Policy Reforms

Entry	Year	Description	Impact
42nd Amendment Act	1976	Introduced 'Environmental Protection' as a Directive Principle of State Policy (Article 48A) and fundamental duty (Article 51A(g)), indirectly influencing industrial environmental regulations.	Led to the enactment of the Environment (Protection) Act, 1986, which significantly tightened environmental compliance requirements for industries, impacting their operational costs and location decisions.
Companies (Amendment) Act	2013	Replaced the Companies Act, 1956, introducing new provisions for corporate governance, corporate social responsibility (CSR), and ease of doing business.	Mandated CSR spending for eligible companies, impacting industrial firms' social obligations. Simplified incorporation and compliance procedures, while also increasing accountability for directors and management, affecting the regulatory environment for manufacturing entities.
MSMED Act, 2006 (subsequent revisions)	2020 (revision)	The Micro, Small and Medium Enterprises Development Act, 2006, provided a legal framework for MSMEs. A significant revision in 2020 changed the classification criteria.	The 2020 revision redefined MSMEs based on composite criteria of investment and turnover, removing the distinction between manufacturing and services. This expanded the scope of MSME benefits to more enterprises, aiming to boost their growth and contribution to the economy.