MSMEs contribute 40 per cent of Indian exports: TCS iON Head

Sangareddy: The TCS iON Global Head Venguswamy Ramaswamy has said that Micro, Small, and Medium Scale (MSMEs) industries were acting as the backbone of Indian economic growth. He said there were 65 millions of MSMEs in India which had employed over 120 million employees. The Indian MSMEs’ share in exports was put at 40 per […]

Sangareddy: The TCS iON Global Head Venguswamy Ramaswamy has said that Micro, Small, and Medium Scale (MSMEs) industries were acting as the backbone of Indian economic growth. He said there were 65 millions of MSMEs in India which had employed over 120 million employees.

The Indian MSMEs’ share in exports was put at 40 per cent which spoke their worth. Observing that the government’s approach towards MSMEs has been changing slowly in a positive way, the TCS iON Global Head said that the Ukraine-Russia war and gaps in the India-China trade relationship will boost the MSME sector in India.

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He was speaking at the one-day conclave on “Creative Startup Ecosystem” organised by All India MSME and GITAM School of Business Hyderabad at Rudraram in Sanagreddy district on Thursday.

He observed that the MSME sector was struggling due to a lack of investments and trained workforce, procurement, sales, marketing and logistics. Suggesting that the students find solutions to some of these issues by using digital technology, Ramaswamy asked them to visit local industries to find out the issues.

University Vice-chancellor Prof Sivaramakrishna, Pro-Vice-Chancellor Prof N Sivaprasad, All India MSMEs Association National President Avinash K Dalal. and others were present.

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