Gurugram, May 23 -- Facing triple whammy of rising input costs, demand slowdown and trade disruptions in the wake of West Asia conflict, industry body Federation of Indian Micro and Small & Medium Enterprises (FISME) has urged the Haryana government to invoke force majeure clause in contracts to allow suppliers more time to fulfil their obligations.

In an emergency meeting held on the West Asia and Middle East crisis by Haryana chief minister Nayab Singh Saini, FISME President Rakesh Chhabra also called for mandatory compliance of the 30-day payment rule for state procurements.

The leading MSME industry body appealed to the Haryana government to issue a circular asking all corporates to register on TReDS platform, thus enabling MSMEs fa...