Speaking at the Chennai edition of the ET Make in India – MSME Regional Summit, Pachuau – who is also Executive Director of Facilitating MSMEs of Tamil Nadu (FaMe TN), an autonomous agency of the state government – said the government is creating an industrial database to gain a comprehensive understanding of the MSMEs in the state to inform policymaking decisions and ensure effective identification of beneficiaries of various schemes and initiatives. For this comprehensive database, field personnel are being deployed to conduct door-to-door surveys to verify MSME details, while data from various sources, such as the Ministry of Corporate Affairs and GST filings, are being collated, Pachuau said.
The government has also launched the Tamil Nadu credit guarantee scheme to address the challenge MSMEs face in getting access to formal credit, Pachuau said during her keynote address. It is also providing collateral-free loans with enhanced coverage for MSMEs and is in the process of developing a credit score system to assess MSMEs’ creditworthiness, she added. Organised by EconomicTimes.com as part of its year-long MSME-focused initiatives with the theme of ‘Building future-ready MSMEs for India@100,’ Chennai edition of the MSME Regional Summit explored the challenges and growth prospects of the state’s MSME sector.Register now for ET Make in India MSME Regional Summits and ET MSME Day 2023 Virtual Conclave:
Top speakers including Ponnuswami M., Chairman – CII Subcommittee, MSME and Ease of Doing Business (Southern Region); Founder & CMD, Pon Pure Chemicals Group also highlighted the role that government has played in creating growth opportunities for MSMEs, but called for greater collaboration amongst various stakeholders of the MSME ecosystem to find effective solutions to various challenges that persist.
“There are always challenges for businesses (but it’s important to) see how the opportunities can be leveraged. For example Tamil Nadu government increased the MSME budget; it was about Rs 300 crore four years back and now it is Rs 1506 crore… Tamil Nadu is the only government other than UP to have a separate MSME department and not clubbed with industry,” said Ponnuswami M., during a panel discussion moderated by Miloni Bhatt, Editor – Digital Broadcast, EconomicTimes.com. Other panellists included N Jegatheesan, President of TN Chamber of Commerce and Industries, and K Mariappan, President of Tamil Nadu Small and Tiny Industries Association, as they discussed ‘Strategies to build MSMEs’ global competitiveness and accelerating growth’.
ET OnlineThe event also included masterclasses by Saravana Kumar, Zonal General Manager, The National Small Industries Corporation Limited (NSIC); Guru Vaidya, Solution Consulting Manager, Adobe; NK Muthappa,Vice President, Business Development, MCX; and Nalini Parthiban, Co-Founder, Sweet Karam Coffee.
Other key speakers at the event were CK Kumaravel, Co-founder & CEO, Naturals Salon & Spa and Dr. E Bhaskaran, Jt. Director (Engg)/GM, Department of Industries & Commerce, MSME Department, Govt of Tamil Nadu.
Throughout the day, the event featured a series of engaging talks, panel discussion, and masterclass covering a wide range of topics relevant to the MSME sector. These included discussions on policies, schemes and initiatives to strengthen the local MSME ecosystem; strategies to boost MSMEs’ global competitiveness, and accelerate their growth from micro to small to medium and advantages of utilising tools like Adobe document cloud and base metals hedging as a risk management tool. The event also showcased the inspiring success stories of brands like Sweet Karam Coffee and Naturals Spa and Salon that exemplify the spirit of Make in India while highlighting the burning challenges faced by the MSMEs in Tamil Nadu.
For more information and updates on the ET Make in India MSME Regional Summits, visit the official website
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