ENARADA, Mysore, February 10, 2014:
Over 73 million people in the country are employed by the MSMEs, which is much lesser in comparison to the employment opportunities created by the information technology industries in the country said Mr S Nagarajan, Chairman, CII Mysore and Associate VP & Head – Mysore centre, Infosys Ltd.
Addressing a gathering at an interactive session on MSME Business – Readiness for growth – A discussion on Challenges & Solutions, organized by Confederation of Indian Industry (CII) in association with Small Industries Development Bank of India (SIDBI) here, Nagarajan said MSMEs support about 40 pc of India’s exports and have about 31 million units producing over 6500 traditional and contemporary products.
“SIDBI is meant to cater to the needs of MSMEs, analyze their problems and help them face challenges and solve their issues. The MSMEs should make best use of these facilities,” he said.
Arjun Ranga, Co-Convener, SME Panel & Managing Partner, N Ranga Rao & Sons delivered the theme address and spoke about the challenges faced by the second and third generation entrepreneurs.,
“Transparency is another important factor for a company’s growth. And one has to trust people to remain transparent. Companies should trust their employees and allow them handle responsibilities,” he felt.
K Sathianandan, General Manager & Regional Head, SIDBI, Bangalore said MSMEs are the important pillars of the Indian economy. “We financially support all the MSMEs with a potential and eligibility to grow. The MSMEs should be aware of all our schemes and avail them accordingly,” he added.
