PIB | 15 Jun, 2022
Union
Minister for MSME Narayan Rane has called for coordinated efforts
by all stakeholders to resolve the issue of Delayed Payments.
Receiving a
comprehensive report on the impact of delayed payments on MSMEs on
Tuesday, Rane said delayed payments from buyers weaken the MSME
suppliers and impede their growth.
He said that the Government has been
implementing a series of interventions to address the problem.
At the
same time, given the complexity of the problem, a lasting solution will
need all stakeholders – the buyers, solution providers and MSMEs – to
come together to address it, he added.
The Minister highlighted the key
role of MSMEs in powering the Indian economy to its $5 trillion dollar
future.
The
report titled 'Unlocking the full potential of India’s MSMEs through
prompt payments' written by Global Alliance for Mass Entrepreneurship
(GAME) and Dun & Bradstreet (D&B) India and supported by Omidyar
Network comprehensively covers the issue of delayed payments, and looks
into the impact of this practice on MSMEs' survival and growth, supply
chains and the overall economy.