STATE SOON TO DEVELOP MSME CLUSTER

IN

E. V. Narasimha Reddy, vice chairman and managing director of Telangana State industrial infrastructure corporation (TSIIC), on Friday said that the state government had big plans for medium, small and micro enterprises (MSME).

At a conference organised by the Confederation of Indian Industry (CII) in Hyderabad, Reddy said, “After securing the top position in ease of doing business rankings, the government is now looking into the cost of doing business for MSMEs.”

The conference aimed to discuss how MSMEs can be strengthened and integrated in the global network.

Reddy said one of the reasons MNCs were not interested in sourcing from local manufacturers is due to the lack of discipline in following manufacturing protocols.

“Also, the time has come for MSMEs to re-work their business model and ensure their financial records are maintained properly,” he said. Reddy also announced that the government was working with Korea, Japan and Taiwan to develop sector-wise clusters for MSMEs.

Suresh Chukkapallu, the honorary Consul General of the Republic of Korea, Telangana, in his address emphasized the importance of technology and skill development in making Indian MSMEs global.

“India has an advantage over China and other manufacturing countries in terms of minimum wages and skilled manpower,” he said and assured complete support to MSMEs interested in collaboration with the Korean companies.

Om Prakash Mishra, chief general manager of the state bank of India (SBI) and D. Raju, chairman of CII Telangana, were present at the meeting.