MSMEs need handholding, KTR appeal to Reserve Bank

New Delhi, Oct 5 (KNN) In a bid to strengthen the Micro, Small and Medium Enterprise (MSMEs) in the state, Telangana Minister for Urban Industries and IT Minister KT Rama Rao urged the RBI governor to extend support to the micro and small scale industries of the state.

The appeal by the Minister comes in response to the small scale industries facing difficulty dealing with banks and financial institutions.

Highlighting the importance of the sector in the country, KTR said that the small units form a vital part of the overall economy as these units produce over 45 per cent of the total output.

Explaining the significance of the sector in terms of employment engagement, the minister added that the MSME sector in a way is the largest employment generator.

KTR’s visit to the Reserve Bank is a part of his visit to Mumbai to address the global investors conference.

Also during the conference, KTR said that his government is dedicated to mobilize investments in the state.

Citing the industrial policy of his state, KTR said that the policy matches top standards and is an ideal document.  Also during the tour, KTR met with ICICI Bank CEO Chandamkachar and held discussions on the restoration of small industries in Telangana. (KNN/ AG)