Emerging Opportunities for MSMEs in Telangana - The Way Forward

Business Standard Smart Business

The entrepreneurs of Small and Medium Enterprises (SMEs) need to focus on manpower and markets in this age of e-commerce to grow their businesses. A change in mindset and the priorities is what SMEs have to undergo at this point of time, said the Speakers at the Smart Business event on Emerging opportunities for MSMEs in the state of Telangana - the way forward.
 

SMEs in the state are no longer facing the challenges such as power cuts. This gives enough scope for entrepreneurs to try and fix problems associated with how they run their businesses more efficiently, they said.
 

A deeply immersive discussion was initiated by FICCI Telangana State Council Chairman, Devendra Surana, on spotting the opportunities in the services sector such as health and education besides manufacturing.
 

He said the entrepreneurs will have to pursue their passion and should not make decisions merely based on the government handouts. But if the government promised something to the industry, it has to keep its word, he added. Surana informed that the state government did not release the incentives it had promised to the industry even to this day.
 

Taking part in the panel discussion, B Erram Raju, Advisor, Telangana Industrial Health Clinic Limited, said finance, not lack it, was often causing troubles for SMEs. Stating that the increase in interest costs had led to NPAs in some cases, Raju explained how his organisation was able to help revive some of the sick companies without having to invest any additional money.
 

Pennar Engineered Buildings Systems’ Managing Director, P V Rao and TMI Group’s Chairman, T Muralidharan stressed on the importance of manpower and training for the improved efficiency and proper team spirit necessary to scale up to a new level. Rao opined that SMEs should work towards reducing the disparities between managers and workers to a meaningful level.
 

Insmart Systems’ Managing Director, R K Bisen explained his own difficulties in dealing with bank finance in the early days and said he was able to build his company after moving to Hyderabad and by revisiting his portfolio of services based on the requirements of local industry.
 

SIDBI’s Deputy General Manager, K Vatsa Kumar explained about various schemes under which SMEs can avail of bank funding at lower rates of interest for working capital and other needs.
 

Federation of Telangana and Andhra Pradesh Chambers of Commerce and Industry (FTAPCCI) President, Arun Luharuka delivered the welcome address.