The Common Language Runtime (CLR) is a core component of the Microsoft .NET framework that manages the execution of .NET programs. It provides essential services such as memory management, security, and exception handling, allowing developers to focus on writing code without worrying about the underlying complexities of the operating system. Additionally, the CLR enables interoperability between different programming languages, meaning that code written in one language can work seamlessly with code written in another. This feature promotes code reuse and flexibility, making it easier for developers to create robust applications that can leverage various libraries and components.