New Delhi, Jun 15 (PTI) Union minister Narayan Rane has called for coordinated efforts by all stakeholders to resolve the issue of delayed outstanding payments to Micro, Small and Medium Enterprises (MSMEs).

Receiving a comprehensive report on the impact of delayed payments on MSMEs on Tuesday, the MSME minister said delayed payments from buyers weaken the MSME suppliers and impede their growth.

Also Read | Samsung Galaxy Z Fold 4 Spotted on Geekbench Website: Report.

He said that the government has been implementing a series of interventions to address the problem.

At the same time, given the complexity of the problem, a lasting solution will need all stakeholders –- the buyers, solution providers and MSMEs –- to come together to address it, he added.

Also Read | Asus Zenbook S 13 OLED, Vivobook Pro 14 OLED & Vivobook 16X Launched in India.

The report titled 'Unlocking the full potential of India's MSMEs through prompt payments', written by Global Alliance for Mass Entrepreneurship (GAME) and Dun & Bradstreet (D&B) India and supported by Omidyar Network, comprehensively covers the issue of delayed payments, and looks into the impact of this practice on MSMEs' survival and growth, supply chains and the overall economy to MSMEs.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)