Pune, Oct. 9 -- India is taking decisive steps toward becoming a developed nation by 2047, but substantial reforms in the Micro, Small, and Medium Enterprises (MSME) sector are crucial, along with strict enforcement of the MSME Act, 2006, said S.V. Mohindra, President of the Ordnance Factory Board Vendors Association, today.
Mohindra outlined several measures to create a supportive and secure ecosystem for industries supplying to government defence institutions, including ordnance factories and DRDO.
He emphasized that MSMEs must receive prompt financial compensation, with payments to be made within 45 days, and interest applicable in case of delays.
He also urged the government to prevent interference from external organizations in MSME...