MSME Empowerment: Financial Literacy Insights in Mysuru

Ishita Ganguli Tripathy, Additional Development Commissioner of the Central government, addressed an Outreach Programme on Financial Literacy for MSMEs in Mysuru. She emphasized the importance of creating financial awareness for the growth of Micro, Small, and Medium Enterprises (MSMEs) and highlighted that over one crore informal MSMEs had been formalized in the last three years. The event, organized by SIDBI and KASSIA, aimed to promote financial literacy and emerging opportunities for MSMEs.

Tripathy mentioned the increased budget allocation for the MSME sector and urged businesses to leverage government programs, subsidies, and bank loans. KASSIA President Shashidhar Shetty encouraged informal sector MSMEs to register on the Udyam portal for eligibility to government schemes. Satyaki Rastogi, Chief General Manager of SIDBI, noted the growing MSME sector in rural areas. Globally, MSMEs contribute to 60% of GDP, while in India, it is around 30%, emphasizing the need for financial support. The Outreach program was attended by around 100 to 150 participants, including officials from MSME Development, District Industries Centre, and Mysore Industries Association.