The Micro, Small and Medium Enterprises Development Institute (MSME-DI) Chennai, will start export counselling cell and credit counselling cell to assist new and existing entrepreneurs. It will start functioning in Chennai in a fortnight, said MSME-DI Director S. Sivagnanam.
Two freelance consultants will be appointed to provide counselling that would enable MSMEs either to get guidance for getting credit or to explore new avenues for export area. The consultants would offer their services in Chennai on Mondays, Wednesdays and Fridays. Depending on the demand, they might travel to other cities such as Coimbatore, Madurai, Tuticorin and Tirunelveli.
The fourth all-India MSME census revealed that only five per cent of the entrepreneurs availed of institutional finance. This prompted MSME-DI to set up credit counselling cell to increase institutional finance, Mr. Sivagnanam told The Hindu .
“It is the first of its kind initiative evolved by Chennai MSME-DI. Credit is the main ingredient for any start-up or existing enterprise. However, these MSMEs do not know how to negotiate with their bankers. Our consultants will provide advice, study the viability of the project, negotiate with the bankers and arrange for loans. In fact, they will reduce the work of the bankers. The consultants will charge a nominal fee for consultancy and some percentage as fee for additional services,” he said.
Besides, MSME-DI will also prepare a documentation to achieve sector-wise growth strategy in select few areas such as foundry, pumps and motors, gems and jewellery, leather, garment and auto components.
The check list will be ready within two weeks and the road map will be drawn next month.
The details will be hosted on its website.
“The road map will be drawn based on certain criteria to enable existing units to leverage on government incentives to enhance productivity, sustainability, growth, provide more jobs and add to country's GDP. Though we have selected 10 sectors, only six sectors will be taken up in the first instance. Through this initiative, we will cover Coimbatore, Tiruchi, Ambur, Madurai, Chennai, Erode, Tiruppur and Kancheepuram,” he said.
