CII to roll out initiative for MSMEs in Bangalore

The initiative is for taking small firms to the next level by introducing state-of-the-art technology, market linkages and manpower planning

To improve the core competence of the small and medium manufacturing outfits across India, the Confederation of Indian industry has decided on an ambitious plan. The initiative, GTC 100 (Golden Top Companies 100), is set to be launched in Bangalore on July 4 during the National Council Meet of CII.

The pan-India initiative is for taking the small companies to the next level by introducing state-of-the-art technology, market linkages and manpower planning.

Talking to Business Standard, the Chairman of CII (NR) Committee on MSMEs, Raman Saluja, said the idea was to shortlist 100 small companies on the basis of their capabilities and strength for handholding.

The initiave would be implemented by the CII -Avantha Centre of Competitiveness and would guide selected 400 MSMEs to grow three-five times bigger in four years. CII would help them both in operations as well as marketing to increase efficiency in production, reduce costs as well increase the top-line and the bottom-line. Applications would be invited from CII MSME members and selection would be done on the basis of a small initial audit. Initially 25 companies from the Northern Region would be selected as pilot project.

He added that the initiative would be mainly sponsored by the large scale companies and a holistic approach would be adopted to empower the small partners.

A technical team appointed by the CII would shortlist the desirous applicants and who cannot be picked up in the first round due to paucity of infratsructure would be considered for the next round.

"The more promising ones who miss the bus due to any reason would be imparted some sort of metoring to prepare them as frontrunners in the next round" said Saluja.

He called for a collaborative effort on the part of centre and state governments and agencies, banks and Financial Institutions to ensure that the schemes like cheaper credit, easy lending, collateral free loans and various other exemptions etc laid down for the benefit of MSMEs are implemented in true spirit. "Another area of concern is the lack of awareness amongst the MSMEs about these schemes. To address this issue and to increase awareness about various government schemes, CII would hold Informative Roadshows in association with the Ministry of MSMEs, Financial Institutions (FIs), Finance Ministry and banks all across north to share the schemes in details so that MSMEs can take benefit", he informed.