Jamshedpur, Sep 25: The importance of the MSME sector is well recognized world over, owing to its significant contribution to the global economic growth. The MSME sector in India plays a pivotal role in generating employment, increasing cross – border trade and fostering the spirit of entrepreneurship.
The Indian banking sector is an integral part of the overall economic growth and has supported the growth of the MSME sectors. With the deregulation of the financial sector, the general ability of the banks to service the credit requirements of the MSME sector has improved, said S. Ramakrishnan, General Manager, Eastern Region SIDBI from Kolkata who was chief guest for the CII conference on MSME Financing “Managing Financial Challenges in Economic Downturn” at a city hotel on Wednesday.
Ramakrishnan stressed on the clarity of the financing process from the bank and the transparent balance sheet of the companies; he also spoke on the different initiatives taken by SIDBI for encouraging MSMEs and added we do not see any limits to our MSME role.
The inaugural session of the conference was chaired by S.K.Behera, Chairman CII Jharkhand State Council; he spoke on the
importance of SMEs all economies in the world, especially to in developing countries.
Adarsh Agarwal Convener Economic Affairs Panel & Managing Director Jamipol Limited, gave the theme address, where he mentioned the MSME sector contributes in a significant way to the growth of the Indian economy with a vast network of over 32 million units, creating employment of about 70 million, manufacturing more than 6000 products, contributing about 45% to manufacturing output and about 40% of exports, directly and indirectly.
Conference consisted of two Technical Sessions.
The first session highlighted Government’s perspective on MSME financing where Adarsh Agarwal chaired the session , the other speakers in the session were Mahadeo Lakra , Director MSME DI ,Ranchi Government of India who spoke on the various initiatives and schemes proposed by the government .
Amit Sinha, Asst.General Manager, Reserve Bank of India, who spoke on the current guidelines for MSME Financing. K.R. Samuel, DGM, SIDBI who spoke on role of credit financing during downturn.
Bijay Kumar Sharma, Senior Branch Manager NSIC, which highlighted the role of NSIC in promoting MSMEs. The banks participated in the second session and highlighted ways to manage business during economic downturn.
The session was chaired by Mr. A.K. Srivastava Convener MSME Panel.
The speakers included Ashwini Gupta, AGM, Bank of India, Sanjib Gain, Manager, MCX, H.K.Karimi , Chief Manager (Restructuring) SBI , and Dipshika Mitra, Manager ICRA – Role of credit rating agencies in financing and the second will focus on managing downturn in the present economic scenario.
A.K. Srivastava Convener MSME Panel & Managing Partner A.K. Industries gave the vote of thanks.
The session was attended by well number delegates especially from Adityapur Industry Companies.
Confederation of Indian Industry organized a conference on MSME Financing, which provided a common platform for MSME s, Banks and other NBFC s to share a common platform and brainstorm on the possible solutions that can be offered to MSMEs at such a critical juncture.