Mangalore: MSME sector must update itself – Ajai Kumar

Mangalore: MSME sector must update itself – Ajai Kumar

Mangalore Today News Network

Mangalore, Nov 29, 2012: Addressing the gathering at a regional conclave titled “MSMEs: Building Capacities for Sustainable Growth” organized jointly by ASSOCHAM India and Kanara Chamber of Commerce and Industry (KCCI) Mangalore on Thursday, Corporation Bank CMD Ajai Kumar said that micro, small, and medium enterprises (MSME) have to change with time and keep themselves technologically updated.

Speaking about the MSME sector, he said that it has contributed a lot to the economic growth of the country and is likely to contribute to the rise in India’s GDP by at least 5% in the near future. However, he said that MSMEs need to keep themselves technologically updated, re-invent market requirements, and create smart entrepreneurs.

 

 

KCCI President Mohammed Ameen said that the possibility of rural areas developing through MSMEs is great. Unfortunately, the MSME sector is facing several problems such as lack of land and high rates of land, he said.

Speaking on the occasion, J. Crasta, the co-chairman of ASSOCHAM Southern Regional Council, opined that the government has neglected the MSME sector although it is responsible for 40% of the total production of the country.