ENA MSME 2025-01-13 13:26:29 <p><span style="font-size:14px"><strong>Chennai, Jan 13 (KNN)</strong> Access to funding remains a critical hurdle for India's Micro, Small, and Medium Enterprises (MSMEs) despite the country's extensive banking network, according to Shriram Group Managing Director Subhasri Sriram. </span></p> <p><span style="font-size:14px">Speaking at the Chennai Economic Summit 2025, organised by The Southern India Chamber of Commerce and Industry (SICCI), Sriram emphasised that high interest rates and limited capital availability continue to impede MSME growth.</span></p> <p><span style="font-size:14px">Sriram advocated for a return to community-focused banking models, citing successful examples from Asian economies. She pointed to Japan's community-centered banking system and China's diversified financial ecosystem, which combines global, state-owned, and regional banks, as effective models for supporting small industries. </span></p> <p><span style="font-size:14px">The executive emphasised that localised, personalised banking solutions could provide MSMEs with the flexibility they require.</span></p> <p><span style="font-size:14px">During the summit, SICCI President V N Shiva Shankar outlined Tamil Nadu's economic vision, including its goal to achieve a USD 1 trillion economy by 2030. </span></p> <p><span style="font-size:14px">However, he acknowledged significant challenges facing the state, including weak consumer demand, a 15.79 percent youth unemployment rate, and sluggish rural recovery. Shankar emphasised the importance of focusing on upskilling, energy security, green mobility, and MSME sector strengthening.</span></p> <p><span style="font-size:14px">The event brought together prominent business leaders and industry experts, including XeedQ CEO Gopalakrishnan Balasubramanian and Walmart Centre of Tech Excellence CEO Lakshmi Vaideeswaran. </span></p> <p><span style="font-size:14px">Discussions centered on accelerating India's economic growth through technological advancement and workforce development, with particular emphasis on integrating artificial intelligence, Internet of Things, and robotics into MSME operations to create a future-ready workforce.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span><br /> </p> 40613 https://knnindia.co.in/news/newsdetails/msme/high-interest-rates-limited-capital-hindering-msme-growth-chennai-economic-summit-2025 2025-01-13 13:26:29 knnindia.co.in