In a workshop held during the Keraleeyam festival, Kerala Industries Minister P Rajeeve emphasized the significance of the Trade Receivables Discounting Electronic System (TReDS) as a reliable support mechanism for Micro, Small, and Medium Enterprises (MSMEs). The electronic platform, TReDS, facilitates the financing and discounting of trade receivables for MSMEs, providing a crucial financial lifeline for these enterprises.
TReDS: A Reliable Supportive Mechanism for MSMEs
Minister Rajeeve highlighted TReDS as a dependable mechanism that assists MSMEs in overcoming interim financial challenges and sustaining their operations without encountering liquidity crises. The platform enables MSMEs to raise functional capital by leveraging their receivables.
Utilizing TReDS for Financial Resilience
Acknowledging the vital role of MSMEs in Kerala’s industrial landscape, Rajeeve encouraged promoters of these ventures to utilize the TReDS platform. By doing so, they can access functional capital while mitigating credit risks associated with delayed receivables from goods and services in the market.
Government Support and Participation
Minister Rajeeve mentioned that the government has granted permission for public sector enterprises, companies, local self-government institutions, and various state institutions to leverage TReDS. Many ventures have already registered with TReDS, and MSMEs are especially urged to take advantage of this facility.
Government Initiatives for MSME Ecosystem
Highlighting the state government’s commitment to supporting the MSME ecosystem, Minister Rajeeve mentioned path-breaking policy initiatives and projects that have yielded positive results. The government’s efforts aim to enhance the resilience and growth of the MSME sector in the state.