SME Times News Bureau | 05 Sep, 2019
Union Minister for Micro, Small and Medium Enterprises (MSMEs)
Nitin Gadkari has said
that non-payment and delay in payments to MSME enterprises will be dealt with
very firmly.
Speaking
at a national workshop organized by the MSME Ministry to discuss the issue of
delayed payments to MSMEs and ways to deal with it, the Minister reiterated the
Government's commitment to solve long standing problems of the MSME sector and
give it the required support so that it can realize its full potential in terms
of its contribution to GDP and employment generation.
He
said that the Finance Ministry has recently taken some initiatives for the
sector which will go a long way in strengthening it.
Gadkari
further assured that the recommendations of the UK Sinha committee will be
implemented soon.
Besides Ministry
officials and bankers, the workshop is being attended by entrepreneurs and
various stakeholders from the MSME sector.
Presentations were
made by TReDS, Bombay Stock Exchange, Chamber of Indian MS&M Enterprises,
NeSL (National e-governance Services Limited) on the initiatives that are being
taken to tackle the problem of delayed payments.
Many stakeholders
suffering from delayed payments, spoke about their complaints and placed
suggestions before the Minister and senior officials.
Gadkari appealed all the stakeholders to use MSME Samadhan Portal
so that sufficient data could be gathered about wilful defaulters,
register themselves on stock exchanges and also assured them that the ministry
will soon launch a marketing portal ‘Bharat Craft’ for the marketing of their
products.
Ministry
has already notified that all companies registered with the Companies Act, 2013
with a turnover of more than Rs. 500 crore and all Central Public Sector
Enterprises shall be required to get themselves onboarded on the TReDS (Trade
Receivables Discounting System) platform, set up as per the notification of the
Reserve Bank of India.
The
Ministry has also notified that all companies who get supplies of goods or
services from Micro and Small Enterprises and whose payments to suppliers
exceeds 45 days from the date of acceptance of the goods or services, shall
submit a half yearly return of the Ministry of Corporate Affairs stating the
amount of payments due and reason of the delay.
Secretary
MSME Arun Kumar Panda assured stakeholders that all their suggestions and
problems will be looked into by the Ministry.
Gadkari also Re-Launched the Credit Linked Capital Subsidy
(CLCS) web portal on the
occasion. CLCS is a scheme that provides 15% subsidy for additional investment
up to ₹ 1 cr. for technology upgradation by MSEs.
In the
relaunched scheme there is an additional 10 percent subsidy to SC-ST
entrepreneurs. MoUs were also signed by the office of
DC, MSME with 11 Nodal Banks.
Additional Secretary and Development Commissioner am Mohan Mishra
welcomed representatives from PSUs, Banks, Industry association and
entrepreneurs in the two day long workshop on Credit Linked Capital Subsidy and
Delayed Payment of MSMEs.