GUWAHATI: Bankers and entrepreneurs today emphasised the need for facilitating active dialogue with policy makers and help create conducive environment for the growth of MSME segment in the North East.
Addressing the North East MSME Conclave 2013, ICC Regional Director Ishantor Sobhapandit said that the role of micro, small and medium enterprises in the economic and social development of the country was well established.
This sector contributed eight per cent of the country's GDP, 45 per cent of the manufactured output and 40 percent of its exports, besides providing employment to about 60 million persons through 26 million enterprises.
SBI Chief General Manager (Guwahati Head Office) Rajneesh Kumar said that the sector plays a major role not only in the domestic market but in India's present export performance too.
North-East India today stands poised as a major growth area, given the tremendous availability of natural resources coupled with attractive tax holidays and the "mantra lies in increasing capacities of the local entrepreneurs nd help them to best utilize this by moving up the value chain," he said.
The conclave organised by the Indian Chamber of Commerce, in association with State Bank of India, Small Industries Development Bank of India (SIDBI), Canara BankBSE -3.05 %, Union Bank and Industrial Development Bank of India also discussed issues aimed to find solutions and new initiatives in this sector.
The conclave with the theme 'Competitiveness through Finance and Technology' also addressed important and relevant issues of concern pertaining to the MSME sector like Technology and Environment, Infrastructure, Credit/ Finance, Marketing and Facilitation.