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IL & FS mulls EDS for textile SMEs
15
Mar '16
Infrastructure development and finance company IL & FS is planning to launch “Enterprise Development Services (EDS)”, an online platform for bringing multiple SMEs together and link them with financing agencies, financial advisors, technology and marketing consultants, tax and legal advisors, etc, the Tirupur Exporters Association (TEA) has said in a press release.

TEA General Secretary B. Shanmugasundaram said IL&FS Cluster Development Initiative Ltd (IL&FS Clusters) is a subsidiary of IL&FS Group, has been established for developing solutions for SMEs, through a cluster based approach. They help SMEs, as well as large industries in setting up cluster based infrastructure projects like industrial parks and have been working with textile and apparel industry for past 10 years.

According to Shanmugasundaram, an SME would be able to access services as per its requirement, pick, choose and pay through this platform. In order to keep a continuous engagement with SMEs, the platform will be well equipped to provide up-to-date information and in-depth analysis on the sector including policy, markets, model project reports, training videos on entrepreneurship and basic subjects, etc which would be of interest to existing SMEs and aspiring entrepreneurs.

EDS would help in addressing the challenges faced by SMEs by bringing the ecosystem at one place. Currently, an individual who wants to set up an enterprise has to do a lot of running around or an existing enterprise looking for a specialist for improvement in efficiency does not know whom to hire. EDS shall assist in solving such issues as well so that SMEs can concentrate on their core business and depend on EDS for resolving any other difficulties for funding, linkages, value added services, etc.

Shanmugasundaram also said that IL & FS has proposed to initially launch this portal for textile and apparel sector and before designing and structuring their solution, they wish to discuss with the industry to get proper feedback and inputs.

He said that IL & FS has proposed a meeting with TEA members on march 18. Shanmugasundaram has appealed to TEA members, particularly SMEs to attend the meeting and give their suggestions and have a discussion with IL & FS team. (SH)

Fibre2Fashion News Desk – India

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