MUMBAI : The government is mulling to make it mandatory for large companies to disclose their dues to the micro, small and medium enterprises to ensure that timely payments get made, Union Minister Nitin Gadkari said on Thursday.
The MSME minister conceded that despite various interventions, including promising micro, small and medium firms that payments by the central government and its undertakings will be made within 45 days of delivery of goods or service, a satisfactory solution to the problem has been elusive.
MSMEs are considered the backbone of the Indian economy, contributing the bulk of Indian employment, manufacturing and exports.