Dispute resolution portal to speed up delayed payment cases for MSEs: Prez

President Droupadi Murmu said the online dispute resolution portal launched on Friday will help expedite hearings and decision-making in cases related to delayed payments to micro and small enterprises (MSEs).

Speaking on the occasion of World MSME Day, President Murmu outlined the key challenges faced by MSME, such as access to finance, competition with big corporations and delayed payments.

She said the number of registered MSMEs has grown rapidly as a result of the government's efforts.

"The online dispute resolution portal launched today (Friday) will prove significant in expeditious hearing and decision-making in cases related to delayed payments," the President said.

She appealed to young women to take advantage of government schemes to establish businesses and become self-reliant.

The President observed that the world today is grappling with challenges emanating from climate change and rapidly evolving technology.

Asserting that India is committed to climate change and sustainability goals, she said promoting green technology in MSMEs was the need of the hour.

"This (green technology) will not only improve the sustainability of MSMEs and their competitiveness but also help achieve the country's climate goals," Murmu said.

She emphasised that innovation is critical for sustainability of MSMEs, and shared that the government was promoting a culture of innovation by startups in various ways.

Calling upon MSMEs to encourage grass-root level innovation, the President exhorted them to play a key role in the 'Viksit Bharat by 2047' vision.

MSME Minister Jitan Ram Manjhi said MSMEs alone are providing employment to 34 crore people across the nation.

Currently, cases worth Rs 50,000 crore are pending with Micro and Small Enterprises Facilitation Council (MSEFC), a body established by state governments to resolve payment-related disputes between MSEs and their buyers.

The online dispute resolution portal has been established as a sub-scheme under the online dispute resolution mechanism under RAMP with World Bank assistance.

Cases can be filed by micro and small entrepreneurs in instances of delayed payments using the portal.

They have to enter the Udyam registration number to auto fetch details of their enterprise.

Thereafter, the portal will inform regarding the date of hearing of the case which will be conducted via virtual conference. The portal provides online resolution via conciliation and arbitration.