Kochi, Sep 14 (KNN) State run Public Sector Unit KITCO Ltds is coming up with a programme to handhold MSMEs increase their contribution to the economy by making them competitive. The programme is all set to be launched at the 45th year celebration of the firm by State Industries Minister A C Moideen.

KITCO Ltd. is one of the premier engineering, management and project consultancy firms in India.

Under the programme, KITCO will provide all kind of support to MSME enterprises to help them emerge successful.

Addressing a media conference, Cyriac Davies, Managing Director of KITCO, said that though the MSME sector has huge potential in India, a huge gap exists between potential and real performance.

"Our programme aims to make them competitive and we will provide support to them in areas such as technology, management and accounting among others," he said.

Under the programme, KITCO will provide technological assistance to MSM enterprises to enable them compete in the highly competitive market.

According to KITCO, they will be able to offer cheaper and quality products only by adopting latest technologies.

"Shortage of funds is another issue faced by the MSME sector. It also poses a hurdle for the sector to adopt latest technologies and implementing new marketing strategies. The programme will also help to address the issue to a great extent", it said.

"It proposes efficient use of new funding sources such as venture capital and private equity funds. KITCO will not only propose changes in the operation but also monitor its implementation for attracting such funds," said Davies.