Digital platform launched for sick MSEs in Telangana

Hyderabad, May 25 (KNN) Telangana Industrial Health Clinic Limited (TIHCL) has launched I-Health, a digital platform to expedite and scale the revival of sick micro and small enterprises (MSEs) in the manufacturing sector.

With this, the Government of Telangana becomes the first State to partner with Microsoft to build a digital platform for MSEs.

This online platform will allow sick MSEs to register themselves for support from TIHCL in case their financial condition is not doing well and bank linkages not happening.

Speaking at the launch of the platform, Industries and IT Principal Secretary Jayesh Ranjan said migrating the workflow to a digital platform will help TIHCL to handle more enterprises. Confidence among stakeholders will also increase and this will help TIHCL when it taps new funding channels.

The State Government is also working to tap funding agencies, venture capital, banks and financial institutions, he added.

Chief Executive Officer of TIHCL, Sanjaya Maruvada said industrial sickness is not uncommon. Factors responsible for sickness could include obsolete technology, non-availability of skilled manpower, poor customer engagement, diversion of funds, marketing problems and others.

TIHCL conducts a diagnostic study of the problem and prepared a revival plan. It builds a bridge between the eligible enterprises and banks to ensure that the former do not become NPAs.