MSME sector on verge of collapse: Gadkari
Union Minister Nitin Gadkari on Thursday said micro, small and medium enterprises (MSME) sector is on the verge of collapse and urged major industries to release the outstanding dues to such companies within a month.
He said the position of MSMEs was "worst" as they were now engaged in a "battle for their survival".
The minister also noted that the pendency of dues owed to MSME units by the central government, state governments, public sector undertakings and major industries was "very high".
"My request to all of you, as members of major industries, if it is possible for you to at any cost release the payment within a month. Don't take more time than that otherwise the situation is very bad," the MSME minister said in an interaction via video-conference with the members of SIAM Institute.
"But still if anywhere you have a problem, please be positive about this sector, because this is really on the verge of collapse. Now it is a very important thing if you can help them, within a ...