Updated: Aug 27, 2019
Delayed payments is a major headache for Micro, Small and Medium Enterprises, Union MSME minister Nitin Gadkari said here on Saturday, adding that he was trying to find a solution to this issue.
"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, the payment of MSME should get released in 45 days, and I am trying to take some concrete decision on this," he said.
MSME play an important role in the creation of employment, he said.
So far, MSME have given jobs to 11.50 crore youths, and in these five years He is aiming to add five crore more employment opportunities
Expressing concern about the agrarian crisis, he said the MSME ministry was also focusing on handloom, handicrafts and agro-processing industries.
Promoting entrepreneurship was an important mission of the government, as without it "we cannot become 5 trillion dollar economy", he said.