Confederation of Indian Industry holds annual msme summit

Madhapur: The Confederation of Indian Industry (CII), Telangana, organised its annual MSME summit with the theme of 'Enhancing Competitiveness & Integration with Global Network' here on Friday. The conference aimed at discussing how MSMEs can be strengthened to be competitive and integrated with the global network.

The conference was inaugurated by the Vice-Chairman & Managing Director of TSIIC, E V Narasimha Reddy. He said that after securing top position in 'Ease of Doing Business,' the State government is now looking into the 'Cost of Doing Business' for MSMEs.

The time has come for MSMEs to rework on their business model and ensure that financial records are maintained properly. He said that one of the reasons the MNCs are not interested in sourcing from local manufacturers is due to lack of disciple in following manufacturing protocol. He added that the Govt. is working with Korea, Japan and Taiwan to develop sector wise cluster for MSMEs.

Om Prakash Mishra, Chief General Manager, SBI, in his keynote address said that mismanagement of funds by certain corporates has made banking system more cautious in issuing fresh loans to MSMEs. On the banker's side, it is necessary that branch managers should be groomed and nurtured in handling MSME project proposals.

Speaking on the occasion, Suresh Chukkapalli, Honorary Consul General of Republic of Korea, Telangana, Chairman Emeritus of Phoenix Group, Hyderabad, Honorary Chairman of Institute of Directors (IOD), Hyderabad, emphasised on the importance of technology and skill development in taking Indian MSMEs globally.

He added that India has an advantage over China and other manufacturing countries in terms of minimum wages, skilled manpower among others. He assured complete support to MSMEs interested in collaboration or technology transfer with Korean companies.

In his address, Mahesh Desai, Co-Chair, CII National MSME Council & Managing Director, Meera & Ceiko Pumps Pvt Ltd, urged MSMEs to get 'Glocal' - Think Globally and Act Locally – for seamless integration with international network. It is necessary that MSMEs have to upgrade their products to international standards and be aware of the certifications required to export the product globally.

D Raju, Chairman of CII-Telangana and CEO & MD of Kirby Building Systems & Structures India Pvt Ltd, in his welcome address said, "If India has to become a $5 Trillion economy in 5 years, MSMEs have to play a critical role. It is must for MSMEs to increase their contribution in GDP from 29% to 50%. The conference brought together leading experts in different panels to discuss their viewpoints on how to integrate MSMEs to global supply chain. The program was attended by about 150 MSMEs.

AVS Reddy, Convenor, CII-Telangana (MSME & International Linkages Panel) and MD, Appidi Technologies Pvt Ltd, in his concluding remarks said MSMEs were nurseries for entrepreneurship and a lot of support is required to strengthen the MSME ecosystem.