MSMEs’ waiting time to capital funds reduced now, says CII task force co-chairman

The Co-Chairman of the CII National Task Force for Micro, Small and Medium Enterprises, M. Ponnuswami has claimed that the waiting time for MSMEs to access capital was shortening with the implementation of various Union and state government schemes.

Delivering the graduation day speech at the Thirumalaisamudhram campus of SASTRA, a Deemed to be a University, Mr. Ponnuswami, who is the Chairman and Managing Director, Pon Pure Chemicals Group, encouraged the young graduates to start small businesses and benefit from various schemes such as the credit guarantee scheme.

Stating that MSMEs contribute 30% of the country’s GDP and 50% of the exports, he said that the average CGS credit disbursal was around ₹800 crore a day and 50% of the Government e Marketplace (GeM) portal services were delivered by the MSMEs.

Siva Ganesan, Global Head, Artificial Intelligence and Cloud Business of Tata Consultancy Services, discussed the impact of AI and quantum computing in the software services industry. Encouraging the graduates to develop new skills in Large Language Level models, Data Sciences, IoT and others, he warned them of technology refresh rates which were getting faster than before.

SASTRA Vice-Chancellor S. Vaidhyasubramaniam was present, according to a university release.