Consultancy major KITCO Ltd. is launching a programme to uplift micro, small and medium enterprises to make them competitive, as part of its 45thyear-anniversary celebrations.
“Though the MSME sector has huge potential in India, huge gap exists between potential and the real performance. Our programme aims to make them competitive and we will provide support to them in areas such as technology, management and accounting among others, ‘’ said Cyriac Davies, MD of KITCO. Kerala industry minister A C Moideen will inaugurate the hand-holding programme for MSMEs on September 15.
The programme will help address the issue of shortage of funds often faced by MSME sector. “KITCO proposes to make use of efficient funding sources such as venture capital and private equity funds,’’ he said adding that another issue faced by MSME enterprises is the absence of firms for providing necessary guidelines for their expansion. In the first phase, ten enterprises operating in various sectors will be selected under the programme.
KITCO, established in 1972 as a technical consultancy organization (TCO), has successfully implemented more than 600 projects of various sizes across sectors such as aviation, real estate, tourism, roads and bridges, oil and gas and industrial parks.
It is in the process of establishing a pan-India presence with key assignments from public-sector enterprises. It is presently preparing feasibility reports for new airports at Meerut, Faizabad and Moradabad. KITCO is also the implementing agency of Air India’s hanger project in Nagpur. The other projects that are in progress include the development of multipurpose jetty at Chotti Chowpatty, Girgaon, Mumbai for Mumbai Port Trust and the scrutiny of DPR for development of deep water jetty at Korlai, Raigad, Maharastra apart from several projects by the National Highways Authority of India (NHAI).