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Empowering MSMEs: The Role Of TReDS As Catalyst For Financial Support
Writer: Tanya Chaturvedi
As a dedicated content writer, I thrive on the art of storytelling through various media forms. My passion lies in creating engaging, informative and visually captivating content that resonates with audience across platforms.
India, 6 Nov 2023 11:44 AM GMT
Editor : Ankita Singh |
A literature lover who likes delving deeper into a wide range of societal issues and expresses her opinions about the same. Keeps looking for best-read recommendations while enjoying her coffee and tea.
Creatives : Tanya Chaturvedi
As a dedicated content writer, I thrive on the art of storytelling through various media forms. My passion lies in creating engaging, informative and visually captivating content that resonates with audience across platforms.
Speaking at a workshop organized by the Department of Industries and Commerce (DI&C) to explore the potential of leveraging TReDS (Trade Receivables Discounting Electronic System), Rajeev emphasized how MSMEs can now utilize the platform to secure operational capital.
During the Keraleeyam festival, Kerala's Industries Minister P Rajeev, on Sunday highlighted the instrumental role played by the electronic platform TReDS in supporting and sustaining small enterprises. The platform, which aids in financing or discounting trade receivables for MSMEs, has become a reliable mechanism for addressing temporary financial crunches, according to Rajeeve.
Speaking at a workshop organized by the Department of Industries and Commerce (DI&C) to explore the potential of leveraging TReDS (Trade Receivables Discounting Electronic System), Rajeeve emphasized how MSMEs can now utilize the platform to secure operational capital. He emphasized the significance of TReDS as a means for small enterprises to manage their liquidity without facing financial instability.
Recognizing the growing importance of the Micro, Small, and Medium Enterprises (MSME) sector in Kerala's industrial landscape, Rajeev encouraged promoters of such ventures to leverage the TReDS platform to mitigate credit risks associated with delayed payments for goods and services. He also noted the government's recent authorization for various institutions to utilize TReDS, underscoring the platform's increasing adoption among a diverse range of ventures.
Highlighting the state government's efforts to strengthen the MSME ecosystem through progressive policy initiatives and successful projects, Rajeeve acknowledged the positive impact of these measures on the sector's growth and sustainability.
S Harikishore, Director of DI&C, echoed the Minister's sentiment, emphasizing how TReDS has already proven to be a valuable mechanism for MSMEs facing constraints due to delayed financial returns from the market.
The workshop featured insightful contributions from key industry figures, including Executive Chairman of the Board for Public Sector Transformation K Ajith Kumar, KINFRA Managing Director Santhosh Koshi Thomas, and representatives from various banking and finance institutions, who elaborated on the system's diverse features and benefits for MSMEs.
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