In a statement released, President of the Federation of All India IT Associations (FAIITA), Mr. Navin Gupta, addressed the challenges posed by the Standardization, Testing, and Quality Certification (STQC) requirements for Micro, Small, and Medium Enterprises (MSMEs) within the IT sector.
“While the intention behind STQC certification is to enhance data security, it presents significant challenges that many MSMEs find to be beyond their technical and financial reach,” stated Mr. Gupta. “The added burden of compliance can lead to operational difficulties, and if not addressed promptly, we risk witnessing the closure of over 1,000 MSME units across the country.”
President Gupta emphasized that these challenges can stifle innovation and growth within the sector. “Our MSMEs, which are vital to the economy, need support and resources to navigate these stringent requirements. Without adequate assistance, we jeopardize the livelihoods of many workers and the overall health of our industry.”
In light of the current economic climate, where prices across various goods and services are on the rise, Mr. Gupta urged stakeholders, including the government and financial institutions, to provide necessary support. “It is imperative that we create an environment where MSMEs can thrive, adapt to these challenges, and remain competitive. Collaborative efforts are essential to prevent operational disruptions and ensure sustainable growth,” he concluded.
End of Release
About FAIITA
The Federation of All India IT Associations (FAIITA) is dedicated to promoting and supporting the interests of the IT industry in India, advocating for its members and aiding in the sustainable development and competitiveness of the IT sector within the global marketplace.