New Delhi, May 12 -- Chief Economic Advisor (CEA) V Anantha Nageswaran on Tuesday urged large companies to ensure timely payments to micro and small enterprises (MSEs) to ease their working capital constraints and reduce borrowing costs.

Speaking at the CII Annual Business Summit, he said bigger firms should promptly accept invoices raised by micro, small and medium enterprises (MSMEs) and clear dues without delays.

Rebalancing Financial Dynamics

Nageswaran said, "Larger enterprises in the country have to pledge to contribute to relieving the working capital requirements of micro and small enterprises," PTI reported.

"Micro, small, and medium enterprises are the source of working capital for large enterprises. It should be the reverse...