Sanctity Of Contracts, Vital For MSME Growth: S.C.L. Das

New Delhi, Sep 28 (KNN) A high-level roundtable discussion focusing on the challenges faced by Micro, Small, and Medium Enterprises (MSMEs) was held in New Delhi on Saturday.

The discussion centered on persistent issues affecting MSMEs, with particular emphasis on financial access difficulties and payment delays.

These challenges were highlighted as significant obstacles to the growth and sustainability of small businesses in India.

The event was attended by several key government officials, demonstrating the importance of the issues at hand. S.C.L. Das, Secretary, Ministry of MSME, led the government representation.

He was joined by Ateesh Kumar Singh, Joint Secretary, Ministry of MSME, Anuja Bapat, Deputy Director General, Ministry of MSME, and Manoj Muttathil Ayyappan, Joint Secretary, Department of Financial Services.

S.K. Jain, President, Federation of Indian Micro and Small & Medium Enterprises (FISME), inaugurated the event, stating, “Pro-activeness of top political leadership has been the hall mark of this Government. It has instilled confidence among investors and entrepreneurs like never before.”

“The roaring success of the PLI schemes is a testimony, he added.

The roundtable provided a platform for thorough discussions on these matters, with MSMEs and industry associations putting forward key suggestions for potential solutions.

In his address, S.C.L. Das emphasised the government's commitment to supporting small businesses. He stated, “Ensuring the sanctity of contracts is vital for MSMEs to secure timely payments, which in turn is essential for their sustained growth.”

He explained, “When contracts are honored and payments are made on time, MSMEs can maintain healthy cash flow, invest in their operations, and focus on scaling their businesses.”

The event was organised by the Federation of Indian Micro and Small & Medium Enterprises (FISME) in collaboration with the Global Alliance for Mass Entrepreneurship (GAME) and regional MSME organisations.

This event underscores the ongoing dialogue between the government and the MSME sector, highlighting efforts to address challenges and foster growth in this vital segment of the Indian economy.

The discussions and suggestions put forward during this roundtable are expected to contribute to future policy decisions and initiatives aimed at strengthening the MSME sector in India.

(KNN Bureau)