Telangana gets ₹118 crore under World Bank-assisted Central scheme for MSMEs 

A unified database of formal micro, small and medium enterprises and creation of a streamlined system to synchronise multiple databases of such enterprises will be taken up in Telangana under the World Bank-assisted Central scheme Raising Accelerating MSME Performance (RAMP).

Besides evolving a consolidated database, other interventions planned under the scheme is to establish Enterprise Development Centres at DICs. This is aimed at providing a comprehensive set of services as well as setting up of a call centre to extend support and guidance to the MSMEs, Industries and Commerce Department said on Wednesday.

The RAMP scheme seeks to support various COVID-2019 resilience and recovery interventions of the Union Ministry of MSME. Strengthening coordination and institutions at the national and State level and enhancing the firms’ capabilities and access to market figure in the list of objectives, while the benefits sought to be derived include addressing the challenges of the MSME sector and usher in larger formalisation of the enterprises.

The approved project cost for the interventions under RAMP for Telangana is ₹117.35 crore. Among the initiatives to be taken up under the scheme in the State include setting up of a Centre of Design Excellence to support incubation of startups with design support as well as scaling up MSMEs with design intervention; reviving distressed MSMEs; mapping energy intensive enterprises and helping the transition from self-help groups to MSMEs.

Published – September 18, 2024 09:36 pm IST

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