Digital technologies have scope to bring broader market for micro, small and medium enterprises (MSMEs) thus contributing to their growth, Industries Secretary Jayesh Ranjan said on Saturday.
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The senior official, addressing a virtual seminar on ‘Rebooting MSMEs in the post Covid world’, said inability to use digital technologies was an issue for such enterprises. Citing a study by Telangana Industrial Health Clinic (TIHCL), a body set up by Telangana government to support and handhold MSMEs, Mr. Ranjan said besides external factors such as receivables from government, the factors pushing the enterprises towards sickness included unrealistic business models and adopting wrong business lines by copying others’ models without understanding the dynamics.
A release from Confederation of Indian Industry (CII) that organised the seminar as part of international MSME Day celebrations, said Mr. Ranjan highlighted a need to take steps to help and support MSMEs to overcome these problems.
British Deputy High Commissioner to Andhra Pradesh and Telangana Andrew Fleming said keeping the supply chain through open markets will be crucial to the global economic recovery.
Convenor of CII Telangana MSME Panel A.V.S. Reddy said MSMEs need support and mentoring in terms of finance, international linkages and reaching out to new markets for their sustainability more than before. Director General of National Institute for MSME S. Glory Swarupa said that as per Sustainable Development Goals, MSMEs growth is vital.
Several government schemes supporting MSMEs have been documented and are available on NiMSME website.