Business EconomyPosted at: Sep 26 2026 1:54PM


Embrace technology, quality, global market opportunities to move from compliance to competitiveness : TN official to MSMEs

Chennai, Sep 26 (UNI) The need to strengthen the institutional ecosystem for MSMEs and create an environment that enables enterprises to scale was at the centre of discussions at ASSOCHAM’s conclave “MSME 2.0: From Compliance to Competitiveness — Unlocking Credit, Cash Flow, Technology and Global Market” held in Chennai on Friday.
The conclave brought together government representatives, industry leaders, financial institutions, entrepreneurs and other stakeholders to deliberate on the priorities shaping the next phase of MSME development, according to a press release today.
Addressing the conclave, Tamil Nadu MSME Department Additional Chief Secretary Pradeep Yadav highlighted the significance of the recently enacted MSME legislation and drew attention to the need to strengthen mechanisms for resolving payment-related issues, particularly for micro enterprises, which constitute the overwhelming majority of the MSME base.
“MSMEs are actually a core sector of growth. The vision of the government to make TN a USD 1.5 trillion economy by 2036 can be achieved only if we have a sound MSME base. From compliance to competitiveness, we have to be quality conscious. In the present global world you have to compete globally if you really want to have sustainable growth. AI, automation and all those things, I think MSMEs have to embrace and face the world,” he said.
He noted that Tamil Nadu currently has Six Facilitation Councils and said the Government would look at strengthening their effectiveness. He also stressed the need to improve awareness among MSMEs about these mechanisms and encouraged industry associations to play a greater role in taking information on available provisions to enterprises. Faster resolution of payment-related disputes is particularly important for micro enterprises, where blocked payments can affect business operations and investment
decisions, he added.
N Srinivasan, Chairman, ASSOCHAM Tamil Nadu State Development Council and President, Business Head, UNO Minda Limited (Seating Division), said Tamil Nadu’s strong MSME ecosystem remains an important pillar of the State’s economic and industrial growth and called for a greater focus on the enablers required for the next phase of MSME development.
“Tamil Nadu has a strong and vibrant MSME ecosystem, and MSMEs remain an important pillar of the State’s economic and industrial growth. As we move towards MSME 2.0, our focus has to move beyond compliance towards competitiveness, technology, timely finance, faster payments and access to larger markets. We need to unlock credit, cash flow, technology and global market opportunities for our MSMEs,” he said.
Dr. Sakthivel Ramaswamy, Co Chairman, ASSOCHAM Tamil Nadu State Development Council & Managing Director & CEO, KRR Group Companies, highlighted the contribution of MSMEs to livelihoods, skills and supply chains across manufacturing, services and exports, stressing the need for an ecosystem that enables entrepreneurs to invest and grow.
“MSMEs create livelihoods, develop skills and build the supply chains on which larger industries depend. In Tamil Nadu, we see that contribution every day across manufacturing, services and exports. Ambition alone cannot finance growth. An entrepreneur needs credit at the right time, predictable cash flow, access to technology and a fair opportunity to compete. We must connect better cash flow to greater competitiveness. Cash released from receivables can help fund a better machine, train an operator, strengthen quality systems and prepare the business for the next export order. That is how financial access becomes industry’s capability,” he said.
Released at the conclave, the report underscores the need to strengthen institutional support for MSMEs across four key pillars — Credit Access, Export Competitiveness, Business Continuity and Governance. It calls for stronger continuity of formal credit, improved access to export finance and currency-risk protection, mechanisms for business succession and ownership transition, and proportionate governance and capital-readiness frameworks to help growing MSMEs scale sustainably.
The conclave brought together stakeholders from government, industry and the wider MSME ecosystem for deliberations on strengthening the enabling environment for enterprises and supporting their transition into the next phase of growth.
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Tags: #Embrace technology# quality# global market opportunities to move from compliance to competitiveness : TN official to MSMEs
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