MSME expo expects to generate Rs 50 crore business
The second edition of ‘MSME Expo- 2017,’ beginning from 15 December in Coimbatore, will act as a common platform to […]
Sarabjit Kaur December 5, 2017
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The second edition of ‘MSME Expo- 2017,’ beginning from 15 December in Coimbatore, will act as a common platform to connect the government, PSU, MNCs and international business communities with Indian micro, small and medium enterprises and is expected to generate Rs 50 crore business. Eighty MSME units will showcase products for the benefit of 20 outsourcing companies, buyers and public sector undertakings, S Satheesh Kumar, Deputy Director (in-charge) of city-based MSME Development Institute told reporters in Coimbatore. The expo is being jointly organised by the Institute and Coimbatore Sidco Industrial Estate Manufacturers Association. Satheesh Kumar said the first edition generated Rs 18 crore worth business and added that this year, the organisers have set a target of Rs 50 crore, particularly from Indian Railways, which has increased its purchase quota to Rs 300 crore from Rs 70 crore. With Public Procurement Policy ensuring 20 per cent of purchase from MSME manufacturers, the expo was sure to have increased business, with the participation of ISRO, DRDO and other Defence Establishments, Satheesh Kumar said on Tuesday. COSIEMA president, S Surulivel said though the MSME sector was affected initially due to GST, it was now picking up and in due course would return to its normal business. The expo would also help first generation entrepreneurs and aspirants start new industries as 10 major nationalised banks are participating to extend financial aid, he said.