Kerala well placed for revolution in MSME sector: RBI Governor


Trivandrum: Dr Raghuram Rajan, Governor, Reserve Bank of India, today said Kerala with its huge literacy rate and quality education is capable of creating a revolution in the MSME sector, while inaugurating the fourth edition of India MSME Summit here, organised by the Confederation of Indian Industry (CII), Kerala.

Addressing the summit with the theme ‘Moving up the Value Chain’, he stressed on the importance on creating favourable conditions for MSME’s to grow. He mentioned that for any kind growth in the MSME sector it is very necessary to have the right kind of knowledge backing and Kerala’s rate of education can be a key factor to it.

The RBI Governor stated that the MSME sector has huge potential for employment generation hence the regulators should facilitate MSME’s to grow and make the sector more competitive. He also added that proper infrastructure, access to online market and easy access to finance are few of the impediments for the growth of MSME sector, which needs early attention. It is essential for the big entities to handhold the tiny and SMEs to contribute to the MSME development.

In his address, Jiji Thomson IAS, Chief Secretary, Government of Kerala, said that MSME’s are the backbone of the State’s industry presence, given the number of jobs that has been created by them. He reiterated the need of support to this industry in terms of better technology and access to finance.

Manoj Joshi IAS, Joint Secretary, Ministry of MSME, Government of India mentioned that an area of concern for MSME sector is the large dues pending due to which the suppliers are suffering. He also mentioned about the need to impart technology knowhow to MSME’s in order to make them more competitive & also to bring about more transparency in their dealings.

Harikrishnan R Nair, Chairman, CII Kerala State Council & President, Western India Cashew; Jeevandas Narayan Chairman, India MSME Summit & MD, SBT; and Thomas John Muthoot Chairman, CII Thiruvananthapuram & CMD, Muthoot Fincorp; also addressed the gathering.

The one day Summit covered discussion on topics like Enabling & Empowering SMEs through Bridging the Financial Gap, Emerging Opportunities in Defence & Aerospace / Ports, and Leveraging the use of Technology for Growth.

Kerala Biz News


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