22022022 Hyderabad, FTCCI: Press Release:
The Federation of Telengana Chamber of Commerce and Industry (FTCCI) for its members organized a meeting with Mr. D Chandra Sekhar, IEDS, Additional Development Commissioner, Ministry of MSME, Govt. of India on 22nd February, 2022 at Radisson Blu Plaza Hotel, Banjara Hills, Hyderabad.
In the presence of Mr. K Bhasker Reddy, President, Mr. Anil Agarwal, Senior Vice President, Mr. Meela Jayadev, Vice President, Mr. Srinivas Garimella, Chair Industrial Development Committee, Ms Khyati Naravane, CEO, FTCCI.
Mr. D Chandra Sekhar, IEDS, Additional Development Commissioner, Ministry of MSME, Govt. of India has acknowledged FTCCI for its immense contribution for the growth and development of Trade and commerce. Mr. D Chandra Sekhar while addressing the gathering informed about the various departments and schemes available for MSMEs under Ministry of MSME and how the industry associations can play a major role in the industrial growth of the state.
He opined that the scheme benefits are not reaching the grassroots level and stressed that the federations which plays a proactive role in representing the industrial bodies like FTCCI have to come forward in brining awareness of the schemes and ensure MSMEs avail the scheme benefits available under Ministry of MSME, GoI. He mentioned briefly the details of International Cooperation Scheme with the three sub components namely (i) Market Development Assistance of MSMEs (MDA) (ii) Capacity Building of first time MSE Exporters (FE) and (iii) Framework for International Market Intelligence Dissemination (IMID).
K Bhasker Reddy, President, FTCCI congratulated for taking charge as Additional Development Commissioner, Ministry of MSME, Govt. of India. It is a very proud moment for all of us.
We are confident that under your leadership the MSMEs in the state could avail funds under the various schemes & policies of Ministry MSME that helps strengthen the MSME sector.
Telangana State is consistently in the top ranks of ease of doing business and the growth rate of GSDP as well as industrial sector is higher than the national averages, making the state one of the fast growing states in the country.
Though the state is recording a higher growth rate than the national average, the manufacturing sector is recoding negative growth rate in the last two years due to pandemic situation and the share of the manufacturing sector in the GSDP has actually reduced from about 15% in 2015-16 to 11.9 by 2020-21. The State’s economy is largely driven by service sector with 60% of GSDP coming from this sector.
We all are aware that the strengthening of manufacturing sector is critical for employment generation and sustainable growth of the economy and we request you to work towards strengthening manufacturing sector in the state. FTCCI will also make its effort towards this endeavor and seek your support.
I am glad to share that Federation is also progressing with a long term strategy to bring all the district level chambers into FTCCI fold, have frequent interactions / visits to various prominent places with industrial potential to work collectively for local industries to grow and also to encourage them to enter into export sector for a wider market.
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