Business Category: MSME News

Mumbai, September 02, 2016: Indian Merchants’ Chamber (IMC) today organized a seminar on - ‘Growth Path for MSME in Maharashtra’. Shri Subhash Desai, Hon’ble Minister of Industries, GOM was the Chief Guest for the event.The discussion at the seminar was addressed by eminent experts like Dr. Kshatrapati Shivaji, Chairman &Managing Director - SIDBI and Mr. Deepak Premnarayen, President, IMC.

According to Mr. Deepak Premnarayen, President, Indian Merchants’ Chamber, “There are certain relevant issues for MSME Sectors like

· Market Access

· Technology Know How

· Cost of Finance

The overall credit growth was 10% in last 2 years even though GDP was growing at 7.5% and the Micro Manufacturing decline by 3.8% whereas the MSME declined by 9.8%.

The Ministry of MSME is implementing various schemes and programmes for promotion and development of MSME sector. The Centre will unveil a New National Policy for Micro, Small and Medium Enterprises (MSME) in October. A detailed policy will be projected for the sector which is expected to contribute nearly 7.8% to GDP, 50% to the manufacturing sector and 42% to exports. Today’s objective is to discuss the issues of MSME’s with concerned authorities and propose recommendations for long term solutions. The government is committed to providing all necessary support to entrepreneurs to enable them compete with the larger firms”

Speaking at the event, Mr. Shri Subhash Desai, Hon’ble Minister of Industries, GOM said, ‘’Indian economy cannot neglect MSMEs, as they are the backbone. This is the third event in the last 10 days dedicated to MSME. Most of the industry players aren’t aware of the important aspects such as incubation centres, Make in India fund etc. It is our duty to ensure the required resources are available to the MSEMs. In February, 2016, within the Make in India week, 2600 MOUs were signed out of which 2,400 MOUs came from MSME. One of the initiaitves taken by the govt. of Maharashtra is we have reserved 20 % of the industrial land for MSME’’

According to Dr. Kshatrapati Shivaji, Chairman & Managing Director – SIDBI, ‘’In the Indian context, everybody is taking about the importance of MSME. SME growth is progressively going up. At SIDBI, we provide a supporting environment for them to grow in India. Ease of doing business is the key factor by which we can leverage more opportunities for MSMEs. 97% venture capital funds have been funded by us. We are more focused on the institutional demand side for the sector.’’

Other speakers at the event also discussed on howIn spite of high enthusiasm and inherent capabilities for growth, MSMEs in India are facing a number of challenges like increasing domestic & global competition, working capital shortages, insufficient skilled manpower and uncertain market scenario. To survive with such issues and compete with large and global enterprises, MSMEs need to adopt and innovate their approach in the operations.

Corporate Comm India(CCI Newswire)

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