Gadkari says govt to bring law to ensure MSME dues are paid within 45 days

Union Minister of Micro, Small and Medium Enterprises Nitin Gadkari on Wednesday highlighted that delayed payments are hurting the sector.

In order to boost micro, small and medium enterprises (MSME) sector and strengthen the Atmanirbhar Bharat programme, the Central Government is looking forward to bringing a law that will make it mandatory to pay the dues of MSMEs within 45 days, said Union Minister of Micro, Small and Medium Enterprises Nitin Gadkari on Wednesday.

Union minister Gadkari said PSUs will soon settle dues of MSMEs within 45 days of sale. (Mohd Zakir/ Hindustan Times)

Addressing the members from All India Association of Industries, Gadkari said, "All MSME receivables should be paid within 45 days. Delayed payment is a major problem faced by MSMEs. We are thinking to bring a law to protect their interests."

The Minister said the government is looking forward to introducing legislation mandating public sector undertakings to settle the dues of MSMEs within 45 days of sale.