CII holds annual MSME summit

Madhapur, Oct 26 (KNN) The Confederation of Indian Industry (CII), Telangana, has organised its annual Micro Small and Medium Enterprises (MSME) summit with the theme of 'Enhancing Competitiveness & Integration with Global Network' here where industries experts suggested some measures for MSME.

"If India has to become a $5 Trillion economy in 5 years, MSMEs have to play a critical role. It is must for MSMEs to increase their contribution in GDP from 29% to 50%. The conference brought together leading experts in different panels to discuss their viewpoints on how to integrate MSMEs to global supply chain. The program was attended by about 150 MSMEs,''  said the D Raju, Chairman of CII-Telangana and CEO & MD of Kirby Building Systems & Structures India Pvt Ltd, in his welcome address on Friday.

The conference aimed at discussing how MSMEs can be strengthened to be competitive and integrated with the global network.

The conference was inaugurated by the Vice-Chairman & Managing Director of TSIIC, E V Narasimha Reddy who said that after securing top position in 'Ease of Doing Business,' (EODB) the State government is now looking into the 'Cost of Doing Business' for MSMEs.

''The time has come for MSMEs to rework on their business model and ensure that financial records are maintained properly. One of the reasons the MNCs are not interested in sourcing from local manufacturers is due to lack of disciple in following manufacturing protocol. The government is working with Korea, Japan and Taiwan to develop sector wise cluster for MSMEs,'' he said.

''The mismanagement of funds by certain corporates has made banking system more cautious in issuing fresh loans to MSMEs. On the banker's side, it is necessary that branch managers should be groomed and nurtured in handling MSME project proposals,'' said Om Prakash Mishra, Chief General Manager, SBI. 

Mahesh Desai, Co-Chair, CII National MSME Council & Managing Director, urged MSMEs to get 'Glocal' - Think Globally and Act Locally. It is necessary that MSMEs have to upgrade their products to international standards and be aware of the certifications required to export the product globally.

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