Nitin Gadkari to Discuss The Issue of Delayed Payments with Industry Stakeholders

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Keeping his promise to take “concrete step to resolve delayed payment issue”, Union Minister for Micro, Small & Medium Enterprises Nitin Gadkari will hold  a meeting with stakeholders including officials from other Ministries, top bankers and Central Public Sector Enterprises on September 5 in the national capital. The agenda of the conference is Delayed Payment.

Gadkari, ever since taking charge of the Ministry, has been taking up the matter of delayed payment.

While addressing a convention recently, Gadkari had promised to take some concrete decision on the problem of delayed payment faced by MSMEs.

Gadkari said, “Delayed payment is a major headache for MSMEs.”

Senior officials from RBI, SIDBI, TReDS, public sector banks including from SBI, IDBI, Punjab National Bank, Bank of Baroda etc will attend the meeting.

Regional Director level officers from Ministry of Corporate Affairs, Senior officials from CPSEs like BHEL, NBCCL, BSNL, HPCL, ONGC, BPCL, Officials from Departments of Heavy Industry, Financial Services,NeSL, CIBIL, GeM, Railway Board Chairman and insolvency and Bankruptcy Board of India will also be present for the conference to be chaired by Gadkari.

Apart from senior officials, Injeti Srinivas, Secretary, MCA; Subhash Chandra, Secretary, Defence Ministry; Seema Bahuguna, Secretary, Department of Public Enterprises; Senior officials from MSEFCs of all States and UTs will participate in the conference.

The representatives from national level as well as state level industry bodies like Federation of Indian Micro and Small & Medium Enterprises, Laghu Udyog Bharti, CODISSIA, TANSTIA etc have also been invited.

The Ministry of MSME’s main agendas for the meeting are – delay in examining the cases by MSEFCs and issue of awards; discussion on provision in the rules for recovery of dues as arrears of land revenues; and discussion on deliberations in the MSEFC proceedings through video conferences; create wide awareness about MSME Samadhan portal and creation of more than one MSEFC etc.

Last week, Gadkari had said, “The small scale industry producer never gets payments on time. And this tires and finishes him. I am seriously thinking, whether it is private or public sector or government, that the payment of MSME should get released in 45 days, and I am trying to take some concrete decision on this.”

SMEStreet Desk

SMEStreet is fast growing platform dedicated to entrepreneurs from small and medium sized businesses (SMEs). Committed to facilitate Knowledge & Networking for Business Growth, SMEStreet offers value added content which shows the actual voice of Indian MSMEs.

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