State PSU KITCO Ltd's 'handholding' programme for the MSME sector to uplift the sector and increase their contribution to the economy,will be launched at the 45th year celebration of the firm. KITCO Ltd. Is one of the premier engineering, management and project consultancy firms in India State Industries Minister A C Moideen will launch KITCO'shandholding programmefor MSME sector on the occasion. KITCO, which has been offering its services to major corporate firms till now, is launching the programme with an aim to uplift Micro, Small and Medium Enterprises and increase their contribution to the economy. It will provide all kinds support to MSME enterprises in order to emerge successful. Addressing a media conference here, Cyriac Davies, Managing Director of KITCO,said that though the MSME sector has huge potential in India, a huge gap exists between potential and real performance. "Our programme aims to make them competitive and we will provide support to them in areas such as technology, management and accounting among others," he said. Under the programme, KITCO will provide technological assistance toMSM enterprises to enable them competein the highly competitive market. According to KITCO,theywill be able tooffer cheaper and quality products only by adopting latest technologies. "Shortage of funds is another issue faced by the MSME sector.
It alsoposesa hurdle for the sector to adopt latest technologiesand implementing new marketing strategies. The programme will alsohelp toaddressthe issue to a great extent", it said. "It proposes efficient use of new funding sources such as venture capital andprivate equity funds. KITCOwillnot only proposechanges in the operationbut also monitor its implementationfor attracting such funds," saidDavies.
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