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09/08/2022 02:39pm

CEA tells private sector to pay MSME suppliers on time for economic growth

image CEA tells private sector to pay MSME suppliers on time for economic growth

New Delhi, Aug 9 (KNN) To help the economy revive Chief Economic Advisor V Anantha Nageswaran urged private sectors to ensure that the MSME suppliers are paid on time.

He also said that the private sector needs to invest more in technology and research and development.

Nageswaran was speaking at a virtual meeting with the Calcutta Chamber of Commerce on Monday.

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Stating that Indian economy cannot remain exempt from the global challenges but it remains resilient and is poised for a rebound as the banking system is better, inflationary issues are peaking out and ongoing recovery is healthy, the CEA said.

He encouraged to embrace technology and improve India’s position on the global index as the country’s spending on R&D is significantly low.

Nageswaran also said the private sector should make payments to MSME as that will also help the economy recover better.  (KNN Bureau)

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