In a significant stride toward empowering MSMEs, IRIS Business Services Ltd. proudly signed a Memorandum of Understanding (MoU) with the Telangana government under the newly unveiled Telangana MSME Policy 2024. The signing took place yesterday at a grand event where the Hon’ble Chief Minister of Telangana, Shri Revanth Reddy, officially launched the state’s forward-looking MSME policy. The event was also graced by the presence of the Deputy Chief Minister, Shri Bhatti Vikramarka Mallu, and the Industry Minister, Sri D. Sridhar Babu, among other distinguished dignitaries.
Swaminathan Subramaniam, CEO of IRIS Business Services Ltd., expressed his gratitude to the Chief Minister, Deputy Chief Minister, and Industry Minister for the collaborative opportunity, while also praising Telangana’s progressive initiatives. He remarked, “I grew up in Kolkata, where there’s a saying: what Bengal thinks today, the rest of the country thinks tomorrow. After my recent interaction with Telangana, I can confidently say that people will soon be saying: what Telangana does today, the rest of the country will follow tomorrow.”
In this landmark partnership, IRIS Business Services commits to supporting both the MSME sector and the Telangana government by providing key solutions to uplift and modernize business processes. Subramaniam outlined the company’s “10 Commitments,” with five targeted at MSMEs and five at government departments, to enhance operational efficiency and contribute to the state’s economic growth.
As part of this commitment, IRIS launched two pivotal products for Telangana:
- e-Invoice Portal: Available in both Telugu and English, this portal simplifies e-invoicing processes for MSMEs, making compliance and reporting easier. Telangana is the first state where this portal has been launched in a regional language, reflecting the state’s inclusive approach.
- GST Dashboard: This dashboard provides granular data on industrial activity across districts, allowing policymakers and government officials to access critical information at their fingertips. The tool empowers decision-makers with insights into which industries are operational, their production levels, and their markets through HSN code tracking. With this dashboard, the Chief Minister and other officials will have real-time data on industry performance during district visits, enabling informed policymaking.
MSME Upliftment Through Innovation and Technology
The Telangana MSME Policy 2024 aims to revitalize and strengthen MSMEs by leveraging digital tools and data-driven decision-making. With IRIS’ solutions, MSMEs in Telangana will benefit from enhanced transparency, streamlined regulatory reporting, and increased access to global markets. The e-invoice portal will simplify the invoicing process, ensuring MSMEs comply with GST norms and remain competitive.
Furthermore, the newly launched dashboard will provide the government with insights for better resource allocation, sector-wise interventions, and policies tailored to the needs of specific industries. This holistic approach aligns perfectly with IRIS’ mission to deliver world-class solutions in data management and regulatory compliance.
A Vision for India's Future
The MoU signing represents more than just a collaboration between IRIS and Telangana; it symbolizes the potential for India’s MSME sector to transform through innovation. The scalable solutions provided by IRIS can serve as a model for the entire country, positioning Telangana as a trailblazer in MSME development.
IRIS Business Services is confident that this partnership will set the stage for other states to follow suit, with Telangana leading the charge toward a brighter, data-driven future for MSMEs across India.
