Wednesday, March 29, 2023

CII Jharkhand Conclave: MSME sector is catalyst for industrial and socio-economic development

Technology center by MSME-DI to come up at Bokaro: Indrajit Yadav

Jamshedpur, Feb 3: Confederation of Indian Industry (CII) Jharkhand organised its fourth edition of MSME Conclave based on the theme of Re-energizing Global Value Chains for Jharkhand MSMEs at a hotel in Adityapur.

The conclave acted as a meeting ground of minds to highlight emerging opportunities, exchange ideas and evolve a roadmap for the MSMEs to play a meaningful role in the nation’s growth process. The Conclave covered important topics of discussion including Doing Business with Indian Railways, MSME Financing & Deliberation on Challenges & Opportunities for MSMEs.

Indrajit Yadav, Joint Director, MSME Development Institute, Ministry of MSME, Govt of India, Chief Guest for the session in his address updated the gathering on the Government of India initiatives and also updated on the synergy between the State & Central government in promoting MSMEs. He apprised on the RAMP Scheme (Raising and Acceleration MSME Performance) & the ZED Scheme of the Ministry of MSME. He also updated that a state of art technology center by MSME-DI is coming up at Bokaro which will act as a platform to resolve issues pertaining to MSMEs.

Tapas Sahu, Chairman, CII Jharkhand State Council & MD & CEO, Highco Engineers Pvt Ltd said that MSMEs have been contributing to spreading entrepreneurial culture through business innovations. Unique feature of MSMEs is that they are widely dispersed across sectors of the economy producing a diverse range of products and services to meet local as well as global markets. Needless to mention that the MSME sector is responsible for around one-third of India’s GDP and has tremendous room for expansion. Employment creation is next to agriculture, thus MSME sector has potential of tapping individuals to associate with economic activities by way of self-employment.

Ritesh Agarwal, Co-Chairman, CII ER MSME Subcommittee & Managing Director, Royal Balaji Engineering Pvt Ltd said that Jharkhand has always been in the frontrunner position with its past glory and present growth in the manufacturing space with special focus to MSMEs holding the fort of the supply chain to world-class large-scale manufacturing facilities in the State and the region. CII believes that there is a need to strengthen the entire support structure – relating to mentoring, financing, quality standards, marketing inputs and technology acquisition for MSMEs. CII intends to play a significant role in this endeavor by supporting MSMEs of the Region.

Rajiv Bansal, Convener, CII Jharkhand MSME Panel & General Manager (Supply Chain), Tata Motors Ltd said that The Micro, Small and Medium Enterprises (MSME) sector has emerged as a highly vibrant and dynamic sector of the Indian economy over the last five decades. It contributes significantly to the economic and social development of the country by fostering entrepreneurship and generating large employment opportunities at comparatively lower capital cost, next only to agriculture.  MSMEs are complementary to large industries as ancillary units and this sector contributes significantly to the inclusive industrial development of the country. The MSMEs are widening their domain across sectors of the economy, producing a diverse range of products and services to meet demands of domestic as well as global markets.

Around 100 industry delegates attended the session.

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