Global fintech company IRIS Business Services Limited has signed a Memorandum of Understanding (MoU) with the Government of Telangana to enhance the state’s MSME ecosystem. The partnership was formalized during the launch of Telangana’s new MSME policy, led by Chief Minister Revanth Reddy. IRIS CEO, S Swaminathan, and Special Chief Secretary Shri Jayesh Ranjan represented the two parties.
The collaboration, structured as a public-private partnership, will see IRIS investing in technology-driven solutions to support MSMEs. The company will recover its costs through user charges, while the government will provide administrative and policy support, ensuring the benefits reach as many MSMEs as possible.
Swaminathan emphasized the potential of leveraging data to drive economic growth, aligning with Telangana’s vision of becoming a trillion-dollar economy by 2035. He also announced two key initiatives: an MSME dashboard for state officers to monitor businesses and a free multi-lingual Invoice Registry Portal for MSMEs to generate e-invoices in Telugu.
This partnership marks IRIS’s entry into the data applications business, furthering its mission to empower MSMEs with valuable digital tools.