Effective use of digitalisation, exploring new markets will hold key to sustainable growth for MSMEs: Jayesh Ranjan

Hyderabad, Jan 9 (KNN) Making effective use of digitalisation, exploring new domestic and export markets and collaboration among themselves would hold the key to sustainable growth for MSMEs in the post COVID-19 scenario, said Jayesh Ranjan, Principal Secretary, Industries & Commerce (I&C) and Information Technology (IT), Telangana government.

He said this while speaking at webinar, “Connecting Telangana’s MSMEs to the Global Consumers and Businesses” organised by PayPal India and Confederation of India Industry (CII), he urged the MSME’s to tap into global consumer value chain and increase export of Made in India goods and services.

''COVID has brought about many challenges for the businesses, especially for the MSMEs, in the area of access to capital,'' he added.

While appreciating Confederation of Indian Industry and PayPal's initiative, he mentioned that this will help enable the new export economy for MSMEs in the state, create ease of living with smooth processing of foreign inward remittances and develop world-class fraud protection for the small and micro enterprises.

PayPal India Director (Corporate Affairs) Nath Parameshwaran said that the company's focus is on democratising financial services while Krishna Bodanapu, Chairman, CII Telangana, in his welcome address said that MSMEs need exposure to large markets and expertise to be able to scale up and enhance the capabilities.