MSMEs in focus at meet

CII Tamil Nadu Vice-Chairman K. Hari Thiagarajan at a conclave in Madurai on Tuesday.

CII Tamil Nadu Vice-Chairman K. Hari Thiagarajan at a conclave in Madurai on Tuesday.  

‘Madurai has over 40,000 units’

Vice-Chairman of Confederation of Indian Industry (CII), Tamil Nadu, K. Hari Thiagarajan on Tuesday said it would be wise for India to capitalise on the trade war between the USA and China.

He was speaking at a conclave on micro, small and medium industries organised by CII Madurai.

Small industries would create a ripple effect in effectively making most of the current situation. “It is evident that China is investing in Cambodia and Vietnam to route manufacturing through those countries. India can be featured here too,” he said.

People must not undermine the role of MSMEs, which must make the most out of tax cuts announced by the government and ensure that they become more compliant with issues such as payment of tax. “Conclaves such as this will help them identify opportunities, challenges and create new avenues for growth,” he added.

Chairman of CII-Madurai K. Nagaraj said small industries had no choice but to adopt information technology and innovations such as robotics to scale. “At present, MSMEs receive 16% of the total bank lending. This should increase to between 30% and 40%.”

General Manager, District Industries Centre (DIC), M. Ramalingam said Madurai had over 40,000 registered MSMEs. “The Centre and the State are providing capital subsidies and handholding new businesses through various schemes.

Sustainable development of MSMEs was key to their success, he added.

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Printable version | Apr 5, 2020 5:48:37 PM |

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