Need to support MSMEs emphasised
Hyderabad June 27(HS) Mr Jayesh Ranjan, Principal Secretary, ITE&C, Industries & Commerce Department, Govt. of Telangana said that State government has established Telangana Industrial Health Clinic Ltd (TIHCL) to support and handhold the sick MSMEs and revive them.
Speaking at the Confederation of Indian Industry virtual seminar on “Rebooting MSMEs in the Post Covid World” as part of International MSME Day Celebrations here today Mr. Jayesh Ranjan highlighted some of points from the study done by TIHCL that are making MSMEs fall prey to sickness, besides the external factors such as deliverables from government etc. They include unrealistic business models and adopting wrong business lines by just copying others’ models without understanding the dynamics besides their financial plans are not realistic while over relying on debt.
He opined that this may be because of lack of professional help to MSMEs. Dr Andrew Fleming, British Deputy High Commissioner , in his address said that Corona is the biggest threat being faced by the world. He said that we need to put our best efforts to keep the trade going and supply chains open so that essential supplies can be maintained. He stated there has been a greater collaboration between UK and India from industry point of view, and it will continue to become even stronger in future.
Earlier, in his address, Mr AVS Reddy, Convenor, CII Telangana MSME Panel & Managing Director, APPIDI Technologies Pvt Ltd, welcomed the guests and participants. MSMEs need support and mentoring in terms of Finance, International Linkages and reaching out to new markets for their sustainability in such a crisis time, he said.
Ms S. Glory Swarupa, Director General, National Institute for MSME, Mr Abhijith Jayanthi, Co-Convenor, CII Telangana MSME Panel & Managing Director, SimplyJITH Investment Corporation Pvt Ltd, also spoke.
The virtual seminar brought together leading experts and senior officials from UK, South Korea and Israel.
