Micro, Small and Medium Enterprises(“MSME”) have been the backbone of our economy. In year 2015-16, MSMEs contributed 28.77 % to the GDP of India. However, the MSME industry has been plagued with issues like credit unavailability, non-payment of dues by corporate clients etc., to name a few. On November 02, 2018, PM Shri Narendra Modi launched a historic outreach programme with 12 initiatives to benefit MSMEs. In pursuance of the programme, the Ministry of MSME, issued notification S.O. 5621(E) to all companies with turnover more than INR 500 Crore and all Central Public Sector Enterprises (CPSEs) to register on TReDS. Further, Registrar of Companies of each State and Department of Public Enterprises were empowered to monitor the compliance of the notification.Read more
