The MSME National Summit and Awards emphasised exploring new alternatives for small companies
•Updated: August 27, 2021 19:28 pm
The micro, small and medium enterprise (MSME) sector has made a major contribution on many fronts of the nation’s financial system. But there was lots of strain on this sector throughout the difficult interval of the COVID. So we tried to know the difficulties of the industries by way of the MSME National Summit and Awards. At the identical time, the emphasis was laid on exploring new alternatives for small companies. We surveyed key sectors to know the pulse of industries and tried to handhold MSMEs along with industry leaders.
The summit began with the auto elements sector. The auto part industry is unfold in completely different components of the nation. And MSMEs even have a powerful stake in this industry. During the occasion, industry leaders mentioned varied facets associated to the home, export, and aftermarket segments, starting from preparations for Industry four.zero.
Similarly, the leather-based footwear industry has an necessary contribution to the financial system of the nation. India’s leather-based industry additionally has a definite identification in the world. Speaking of incomes overseas alternate, the leather-based footwear industry is amongst the high 10 in the nation. The subsequent occasion of the MSME National Summit and Awards was on the Leather Footwear Industry. From digital transformation to new export markets had been mentioned.
Then the subsequent program of the sequence was on a sector that has its roots in rural and city areas. Yes, handicraft industry. An industry that provides the metropolis its identification by way of its merchandise. As an artisan, there may be additionally massive participation of ladies in the handicraft industry on the employment entrance. The program brainstormed on the altering enterprise model on varied dimensions of the handicraft industry. Simultaneously, the journey from the village to the world was additionally mentioned.
India is considered one of the main producers of cotton. And the nation has made its mark in clothes and textiles sourcing. Meanwhile, in the textile sector, India is dealing with lots of competitors in the world market. So, our subsequent program was centered on the textile sector. It mentioned varied schemes of the authorities, from worth-added merchandise to costly yarns and industry on the entrance of Mega Investment Textile Park.
Now we’re speaking a couple of sector that’s taking part in an necessary function in the rural financial system. We are speaking about the meals processing industry. This is the industry that’s rising as a dawn sector. Our subsequent present centered on the meals processing industry. During the program, varied facets of Production Linked Incentives (PLIs) had been mentioned. On the different hand, with the challenges of the industry and the alternatives current in it, from the chilly storage infrastructure to the altering mindset of the clients, the view was stored.
After discussing the pulse of assorted sectors in the MSME National Summit and Awards, we centered on some main states. The separate program of the sequence has been centered on a state which has made a reputation for itself in the subject of sports activities. We additionally held a particular session with the Deputy CM of Haryana, and Industry and Commerce Minister Dushyant Chautala on how MSMEs are being inspired in the state.
During the occasion, we mentioned the challenges MSMEs are dealing with in the state, starting from new alternatives, in addition to Ease of Doing Business to job reservation regulation. Chautala additionally included recommendations from main MSME facilities in the state.
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After Haryana, we turned to the younger state of Telangana. MSMEs play an necessary function in the financial system of Telangana. There are about 26 lakh MSMEs working in the state, that are offering employment alternatives in the state on a big scale. During the program, we brainstormed on the insurance policies of the state with Principal Secretary Commerce and Industry in addition to Principal Secretary Information Technology (IT) Jayesh Rajan.
We mentioned expertise to exports, skilling to delayed funds in this sequence. At the identical time, the recommendations of some outstanding MSMEs of the state had been additionally included.
MSME carried out many particular classes in the grand finale of the National Summit and Awards 2021. In the first session, Dr. HP Kumar, Director, External Affairs, Power2SME; Suryakant Sawant, General Manager, MSM & Retail Credit, Bank of Maharashtra; Okay Rama Devi, President, Association of Lady Entrepreneurs of India (ALEAP) with Abhishiyant Anasapurapu, Head Marketing, Multi Versus Technologies took half.
Commenting on the steps taken by the authorities as a aid for MSMEs in the second wave of the COVID throughout the session, Dr. Kumar of Power2SME stated that the COVID and the lockdown brought about lots of difficulties in the industry, particularly in the MSME sector. Due to this, the manufacturing was additionally affected, which additionally brought about large losses. He stated that in difficult occasions, the authorities promptly announced several packages for the industry. The aid measures had been appreciating, however MMMEs was not fully relieved by these packages. Especially to these models which weren’t already taking loans from banks.
The Central Government had announced the Emergency Credit Facility Guarantee Scheme (ECLGS) to supply aid to MSMEs. Commenting on the situation of ECLGS, Sawant of the Bank of Maharashtra, stated that the scheme is in the type of a collateral mortgage. Most of the models have taken benefit of this. He knowledgeable that about 2 lakh MSME models are related to the Bank of Maharashtra, out of which 84,000 models have availed the advantage of this scheme. We have sanctioned Rs 2,500 crore beneath this scheme. Meanwhile, a disbursement of Rs 2,200 crore has taken place.
Commenting on the want for help to ladies entrepreneurs in micro-entrepreneurs, Rama Devi of the Association of Lady Entrepreneurs of India (ALEAP), stated that the disaster of the COVID has had a huge effect on ladies. Micro-entrepreneurs in specific confronted lots of difficulties, whether or not it’s on the credit score entrance or reviving your models. The availability of a talented workforce was additionally an enormous problem. There can also be a must deal with womens’ entrepreneurship.
Considering the communication software of enterprises, Abhishyant Anasapurapu, Head Marketing, Multi-Versus Technologies stated that protecting MSME in thoughts, we have now checked out two main elements, particularly when getting ready provides for the enterprise. The first is the complexity of enormous-scale adoption. And second, a lot of apps that meet the wants of various use instances.
Taking the matter additional, he stated that amenities like video calling, storage, enterprise collaboration have gotten out there by way of apps. Also, to simplifying the course of, if we see one thing as an built-in answer that has all these options in a protected approach, then we consider that this adoption turns into a lot sooner.
In the grand finale of the MSME National Summit and Awards 2021, A S Rajiv, MD & CEO, Bank of Maharashtra stated in a message that Bank of Maharashtra’s efficiency in the monetary 12 months 2020-21 was wonderful. Meanwhile, the financial institution recorded a development of 35 per cent in the mortgage section of MSMEs. He knowledgeable that the financial institution has made main modifications in the lending of MSME sector beneath the technique. Under this, a Business Development Vertical was arrange in the head workplace specializing in MSMEs. Meanwhile, the financial institution additionally actively participated in the TReDS platform.
Alka Nangia Arora, Joint Secretary, SME, had a particular session with the Ministry of Micro, Enterprise and Medium Enterprises at the Grand Finale of the MSME National Summit and Awards 2021. During the program, Arora shared the views of the authorities on varied facets associated to MSME challenges and enterprise registration. Describing the present scenario of MSMEs, Arora stated that the COVID-19 was unhealthy for everybody. And it had a major impression on MSMEs. She identified that the micro and small sectors work at extraordinarily low margins. They are additionally a part of the worth chain or provide chain. So then for some cause when the provide chain is affected, its impact can also be seen on them.
During the dialogue, she stated that the authorities had taken lots of steps to supply aid to MSMEs throughout the first wave of the COVID. So, all of us thought and assumed that issues would get higher. But, after the second wave of the COVID, there have been some issues. But MSMEs are being supported to beat these issues.
Speaking on the Champions Portal, specifically created for redressal of grievances of MSMEs, Arora stated that in the COVID final 12 months, we realised that a lot of MSMEs had been dealing with difficulties. So once more in May 2020, the Champions Portal was designed.
She stated that the ministry has opened 68 completely different facilities of the portal in its completely different places of work. Around 16-17 ministries have additionally been added beneath this facility. Meanwhile, most of the banks have additionally been included in it. At the identical time, the states have additionally been linked to it. During the dialogue, Alka Nangia stated that if MSMEs write or inform us their grievances, we attempt to join with those that have grievances.
He stated that the ministry has opened 68 completely different facilities of the portal in its completely different places of work. 16-17 Ministries have additionally been added beneath this facility. Meanwhile, most of the banks have additionally been included in it. At the identical time, the states have additionally been linked to it. During the dialogue, Alka Nangia stated that if MSMEs write or inform us their grievances, we attempt to join with those that have grievances.
The award for Outstanding Entrepreneur in the Auto Components Industry went to Sunil Arora, MD, Abilities India Pistons and Rings Limited.
The award for Outstanding Entrepreneur in Leather and Footwear Industry was given to Puran Davar, Chairman, Davar Group.
Similarly, the award for the greatest entrepreneur in the handicraft industry went to Manish Mehta, MD, Fortune Exports.
While the award for the greatest entrepreneur in the textile industry was given to N. Thirukumaran, CEO, Esstee Exports.
Rohit Sareen, Director, Sareen Impex, was awarded the Outstanding Entrepreneur Award in the Food Processing Industry.
The award for Best Entrepreneur from Haryana went to Rajiv Chawla, Chairman, I’m SME of India.
The Best Entrepreneur Award from Telangana was given to Venkat Jasti, Chairman & CEO, Suven Life Sciences.
Acer gained the award for the greatest laptop computer model in the enterprise section. Acer India’s Chief Business Officer Sudhir Goyal obtained the award.
Bank of Maharashtra was awarded the Outstanding Banking Partner Award for MSMEs. Bank of Maharashtra Executive Director (ED) Hemant Kumar Tamta obtained the award.
The MSME National Summit and Awards 2021 additionally had a session with Gaurav M Dhahake, CEO of Bit BNS.
Expressing his views on the facet of dealing with MSMEs on the entrance of digital transformation throughout the session, Bit BNS CEO Gaurav M Dhahake stated that there are various fascinating issues to be seen in the MSME sector. Significant modifications had been felt in the market. For instance, if the markets had been closed throughout the lockdown, then on-line purchasing passed off.
People are displaying their catalogs. It will be shared on WhatsApp by way of expertise. He stated that this can be a type of fast pattern. However, it was anticipated to occur in 5-7 years. But the COVID has sped it up. Whereas, we see that lots of instruments are being developed for such firms.
While discussing the traits in the Indian market of crypto, Dhahake stated that the approach persons are investing, they’re turning into fairly mature. Five years in the past, until 2016-17, he stated that lots of impulses had been being invested throughout this time. Meanwhile, throughout the 12 months 2020-21, many individuals have actively shifted to the crypto market and fairness market. These persons are seeing potentialities in it in completely different types. On the different hand, referring to crypto globally, Dhahake stated that Japan and the United States have taken a progressive stance on it.
The MSME National Summit and Awards 2021 sequence was carried out by Saurabh Manchanda, SME Editor, Zee Business. The MSME NATIONAL SUMMIT and AWARDS 2021 presenting associate is Amazon, Co-powered by Pharmeasy and Intel, Crypto Exchange associate is BitBns, Domain associate is Godaddy, Laptop associate is Dell, Logistics associate is DHL, and Special associate is Teamology.
