Micro, trading MSMEs need targeted support: Equitas Small Finance Bank MD
He added that the government can support micro and trading MSMEs by exploring options for subsidising interest on loans
Equitas Small Finance Bank's Managing Director, P N Vasudevan, emphasized the need for targeted support for micro enterprises in Tamil Nadu during the Vettri Tamil Nadu MSME Summit 2026. Vasudevan, speaking on behalf of micro enterprises, which constitute about 99% of the State's registered MSME units, highlighted the importance of increased access to capital and government support, particularly in trading and service sectors.
Noting that nearly half of all MSMEs are involved in trading businesses, Vasudevan argued that there are insufficient schemes for these enterprises compared to manufacturing MSMEs. He urged the government to explore ways to subsidize interest on loans to support micro and trading MSMEs, as well as simpler regulations to promote ease of doing business.
FICCI Tamil Nadu State Council Chairman, G S K Velu, echoed Vasudevan's sentiments, stressing the crucial role of MSMEs in achieving Tamil Nadu's goal of a $1.5-trillion economy by 2036. He called for streamlined regulations and better business environment. Additionally, City Union Bank's MD and CEO, Vijay Anandh R, highlighted the significance of digital lending in expediting credit decisions.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
