Small Business: Indian SMEs to have exit policy

India is set to introduce the Micro, Smaller and Medium Enterprises Bill 2005 giving SMEs an "exit" policy.

The Bill will also have statutory provisions, preventing inspectors harassing entrepreneurs on various pretext. Other provisions will require banks to extend credit at about 7.5 to 8% interest.

Legislation governing SMEs will also be streamlined, reducing 30 different laws to 12 or less.