• Introduces the Development Commissioner as the administrative head for MSME matters.
• Enables the Central Government to classify MSMEs based on investment and turnover.
• Provides for national and State digital platforms for voluntary MSME registration.
• Mandates certain public sector entities to route MSME invoice settlements through TReDS.
• Prescribes 90-day timelines for mediation and arbitration of MSME disputes.
• Enables recovery of mediated settlements/arbitral awards as arrears of land revenue.
• Requires 75% pre-deposit for non-suppliers challenging an award or mediated settlement.
• Strengthens MSME Facilitation Councils, including their composition and infrastructure.
• Introduces online mediation/arbitration mechanisms.
• Revises penalties for non-compliance and establishes an adjudication and appeal mechanism.

The amendments apply to the MSME framework under the MSMED Act, 2006, with provisions coming into force on dates notified by the Central Government.