Representatives of Laghu Udyog Bharati, Puducherry, met Shri Jitan Ram Manjhi, Hon’ble Union Minister for Micro, Small and Medium Enterprises (MSME), to discuss measures for the growth and development of the MSME sector in the Union Territory of Puducherry.

The delegation was led by Shri V. Visweswaran, President, Laghu Udyog Bharati, Puducherry Chapter, who submitted a memorandum to the Hon’ble Union Minister highlighting key policy recommendations aimed at strengthening the MSME ecosystem.

A major recommendation in the memorandum was the introduction of an innovative mechanism through the GST portal to ensure timely B2B payments for MSMEs, thereby addressing the long-standing challenge of delayed payments and improving cash flow for small enterprises.

The memorandum also proposed reforms to the National Company Law Tribunal (NCLT) framework to safeguard the interests of MSME suppliers during Corporate Insolvency Resolution Proceedings (CIRP). The suggested reforms seek to provide greater protection to MSMEs dealing with financially distressed companies and ensure fair treatment during insolvency proceedings.

The delegation emphasized that these policy measures would enhance liquidity, improve the ease of doing business, and create a more secure and sustainable business environment for MSMEs across the country.

The Hon’ble Union Minister gave a patient hearing to the delegation’s suggestions and appreciated the constructive policy inputs submitted by Laghu Udyog Bharati, assuring that the recommendations would receive due consideration.