Hyderabad: The Federation of Telangana Chambers of Commerce and Industry (FTCCI) hosted MSME Spark 2.0 – “From Local Roots to Global Heights”, a full day conference at Taj Deccan, Hyderabad on Friday.
The event brought together industry leaders, policymakers, and entrepreneurs to discuss innovation, digital transformation, and financial solutions for MSME growth. We saw the state’s future in MSMEs. When we came into power, we brought out the MSME policy, which the previous government didn’t focus on. We knew that policy should be vibrant and more inclusive when we announced the policy. Because of this reason, there is a delay in announcing the guidelines to implement the policy, said D. Sridhar Babu, Minister for ITE & C I & C, Govt o Telangana
D. Sridhar Babu was the Chief Guest and inaugurated the same. Addressing the 200 plus attendees at the second edition of the conclave, the Minister said, MSMEs (Micro, Small and Medium Enterprises) are crucial for the economy. During Covid, when we were in opposition, I asked the then government to focus on MSMEs.
Our objective is to see Telangana grow to be a one trillion US $ economy. To reach that level, we not only need the active contribution of MSMEs, but also we want Micro entrepreneurs to transform and scale up to MSMEs, similarly MSMEs to SMEs and SMEs to Large. We want to see the percentage of transformation also grow. The government needs your cooperation, the Minister said.
Speaking further, D. Sridhar Babu added that the theme was so apt and relevant and needed of the hour. The Telangana State Government wants its MSMEs’ products to go global and have a global footprint. It is our sincere wish. We will build a vibrant ecosystem for the industry. That is my assurance.
The Minister responded positively to Dr Suresh Kumar Singhal, the President of FTCCI, requesting the state government to start MSMEs Clusters in rural Telangana. The Director of the Industries Dr G. Malsur, will convene a meeting, and we will act on your suggestion in the next one month, he told. We are a positive government and we will do everything in our capacity to encourage MSMEs, he announced.
Though the union government and RBI mandated banks not to insist on collateral securities on loans to MSMEs as per the scheme guidelines, some banks still insist because of their apprehension about recovery. We need to see behavioural change in the lower rung staff of the financial sector. And please don’t kill the spirit of young and budding entrepreneurs, he appealed to the sector.
Responding to the long-pending incentives to industries as raised by FTCCI President, which are due from 2014, D. Sridhar Babu said it was discouraging that the previous government for not acting on it and disbursing the benefits. We are sincerely working to solve the problem in a phased manner, he assured the industry delegates in the conference
The Minister proposed that the Director of Industries work out a way to enlighten MSMEs on the importance of AI to their businesses.
Dr G Malsur declared that the Government of Telangana realises the importance of MSMEs and their contribution to the economic growth of the state. MSME’s Udyam registration is important. It is like Aadhar card to industries, he said.
Compliance with standards and certifications can help MSMEs access formal markets, including Government tenders and international trade. Dr Malsur suggested that MSMEs acquire ZED Certification which is very helpful to stay competitive in global market places as well as to get access to capital.
Rajesh Kumar, CGM SBI said all banks are proactive to MSMEs. Their digital adoption will be a game changer. He highlighted the various initiatives of the Bank supporting MSMEs.
FTCCI President Dr. Suresh Kumar Singhal said “MSME Spark 2.0 aimed to equip businesses with tools to compete globally through innovation and collaboration. MSMEs demonstrated an exemplary growth trajectory, contributing 45.73% to exports. MSMEs are growth engines of our economy.
Prem Kankaria, Chairman of the Banking Committee of FTCCI said MSMEs must lead digital transformation and not just adapt.
Srinivas Garimella, Chairman of Industries Committee of FTCCI said many Micro- enterprises, MSMES, SMES remained at the same level and never grew nor transformed to the next level. It is a very sad part to know that less than 10% of micro-enterprises transformed into MSMEs, less than 5% MSMEs to SMEs and less than 1% SMEs to large companies. MSME Spark like conclaves will help accelerate this transformation.
The day-long conclave had many sessions, panel discussions focusing on India’s MSME Landscape; Telangana MSME Policy, digital adoption, AI integration, cybersecurity, e-commerce optimization, and financial strategies such as alternative financing, project funding, and fintech integration. A fireside chat with business leaders will offer insights into scaling startups into global businesses.
Next Story:
Christian Students Get 100 Extra Overseas Scholarships
Hyderabad: The government has allocated 100 additional Overseas Scholarship seats exclusively for Christian minority students each year. The new quota comes over and above the existing 500 scholarships provided under the Minority Overseas Scholarship Scheme. Here To Join Us On WhatsApp With this decision, the total number of scholarships available annually has increased to 600.…
Modi Ten-Point Guarantee For Sisters And Promise Of FST-Tracking CAA After Polls In WB
Kolkata/Hyderabad, April 23 (Maxim News): Prime Minister Narendra Modi, hitting the hustings in West Bengal on Thursday, gave a ten-point guarantee to the “women and sisters” of the state and outlined new government’s key agenda, if the Bharatiya Janata Party (BJP) is voted to power. Here To Join Us On WhatsApp Addressing a huge gathering…
RTC Driver Attempts Suicide at Narsampet Depot Amid Telangana Strike
Hyderabad, April 23 (Maxim News): Tension escalated during the ongoing RTC strike after a driver allegedly attempted suicide at the Narsampet RTC depot in Warangal district on Thursday. The incident created fresh concern among employees protesting across Telangana. Here To Join Us On WhatsApp The employee was identified as Shankar Goud, a driver working at…
Siddipet Police To Organise Mega Job Mela On April 26
Siddipet/Hyderabad, April 23 (Maxim News): To provide employment opportunities to the youth, the Siddipet Police is organising a mega job mela titled “Siddipet Police Udyoga Mitra” on April 25. In a press statement on Thursday, Commissioner of Police Rashmi Perumal said the event will be held at the Siddipet Police convention centre. Here To Join…
Voter Turnout In Bengal 78.77 Percentage And In Tamil Nadu 70 Percent By 3 PM
internet/Hyderabad, April 23 (Maxim News): Heavy polling has been reported in Bengal in the first phase of polling for 152 seats by 3 p.m. is 78.77 per cent . Here To Join Us On WhatsApp While in Tamil Nadu in 234 Assembly seats it is reported by 3 PM is 70 percent. (Maxim News)
Now you can get the latest stories from Indtoday on Telegram every day. Click the link to subscribe. Click to follow Indtoday’s Facebook page, Twitter, and Instagram. For all the latest Hyderabad News updates
