Telangana Health Clinic supports over 100 MSMEs towards revival

MSME

Telangana Health Clinic supports over 100 MSMEs towards revival

Our Burea Hyderabad | Updated on June 28, 2020 Published on June 28, 2020

Telangana Industrial Health Clinic Ltd (TIHCL) has evaluated 218 sick MSMEs over three years and supported 104 of them, which has potential for revival.

Set up three years ago with a view to back MSMEs, through its intervention, physical assets worth about ₹95 crore were safeguarded and employment of 1,800 workers saved.

TIHCL plans to enhance its role as a one-stop solution provider to the Micro and Small Entreprises (SMEs), in particular, for guidance, advice, and coordination with banks/FIs. Its role assumes importance in the backdrop of banks dealing with relatively high volumes of MSME loan accounts and with other responsibilities may not always be able to devote adequate time with the small and micro-businesses. It is this gap that TIHCL intends to fill up.

In 2016, State Industries Minister KT Rama Rao had announced in the Legislative Assembly the move to establish an Innovative Institution to tackle the problems of MSMEs. In June 2017 Telangana Industrial Health Clinic Ltd (TIHCL) came into existence.

In the last three years, TIHCL has taken several steps for helping MSMEs that are in distress. Since its inception, TIHCL closely worked with banks and conducted diagnostic studies and identified the causes of sickness and remedies available. Given that MSMEs lay a crucial role in the economic development and employment growth of the State, the Telangana Government felt the need to play a pro-active role and prevent MSMEs from becoming sick. As a part of its plan, the focus was on revival of units that have become sick before Telangana state formation.

It has used technology for its analytical and diagnostic work and has recruited senior staff members with experience in Banking and Financial Sectors.

In addition, TIHCL is seeking to build a bridge between the MSMEs, government private players and banks.

During the ongoing Covid-19 pandemic, TIHCL is conducting webinars to create awareness on MSMEs and plans to extend support to them. The agriculture and food processing industry have opened up new opportunities in the State due to increased productivity.

Published on June 28, 2020

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Consolidated notification on MSME classification and registration hailed