Number of MSMEs doubled in Kerala in last five years: Industries secy
Kochi, Jul 31 (KNN) The number of Micro, Small and Medium Enterprises (MSMEs) in the state has more than doubled in the last five years, said APM Mohammad Haneesh, Principal Secretary, Department of Industries.
Reportedly, he said this while inaugurating the MSME workshop series organised by the Kerala Management Association.
''The main advantage of the sector is that MSMEs have been given the freedom to market their products,'' he added.
G S Prakash, Joint Director of MSME Development Institute, said anyone wishing to start an MSME project can register online for free through Udyam Registration before December 31.
''Those who have not yet registered through Udyam will have the opportunity to re-register before December 31,'' he added.
He also pointed out that the e-market is also a market where MSMEs can sell their products at a better price. The biggest challenge facing MSME is the delay in getting the money. He also reminded that the trade receivables discounting system should be utilized to overcome this.
Prakash said that the MSME Act provides for MSEs to approach the Micro and Small Enterprises Facilitation Council (MSEFC) constituted by the state government if it takes more than 45 days to receive the payment. The MSME unit also has a facility to lodge a complaint on the portal MSME Samadhan regarding payment delays. There are several marketing support systems available.
''Entrepreneurs can only take full advantage of this if they understand exactly what it is. We should try to utilize most of SIDBI's plans for the MSME sector. The MSME ministry has recently set up a grievance redressal portal to lodge complaints and suggestions against the central and state governments and banks,” Prakash asserted.