ICC Odisha organizes MSME – BANKING & FINANCE e-Conclave
Indian Chamber of Commerce (ICC) Odisha in association with Department of MSME and Department of Finance, Government of Odisha organized “MSME – BANKING & FINANCE e-Conclave with a theme of Unlocking Economic Stimulus & Finance Facilitation for MSME’s on 7th October 2021, 1100 hrs on ICC Virtual Platform. The Chief Guest of the conclave was the Capt.Dibya Shankar Mishra, Hon’ble Minister, Dept. of Home, Industries, Energy & MSME, Government of Odisha. Also Esteemed speakers like Md Sadique Alam, IAS, Director of Industries, Government of Odisha, Smt Vidya Krishnan, Chief General Manager, State Bank of India, Shri P K Gupta, Joint Director & H.O.O, MSME DI, Government of India graced the occasion as Guest of Honour. On hehalf of ICC Mr J B Pany, Chairman, ICC Odisha State Council and Mr Rajib S Sahoo, Convenor, Finance & Taxation Committee of ICC Odisha State Council participated in the programme mentored the session. The eminent panelists comprising of Mr Anmaya Mishra, Regional Manager, Bank of Baroda, Mr Sanjeev Bhardwaj, Zonal Manager, Punjab National Bank, Mr Devasis
Sarangi, Strategic Planner & Financial Consultant, Mr Suman Kumar Jena, Sr. Branch Manager, ECGC Limited , Mr Rajen Padhi, Core Member, ICC Odisha On behalf of Indian Chamber of Commerce (ICC) The focus of the conclave was to bring together the Government, beaurocrats, Industry leaders, leading Banks and Financial Institutions to discuss the challenges and tools to enhance and bridging the financial gaps of MSMEs. Capt. Dibya Shankar Mishra, Hon’ble Minister emphasized on rural entrepreneurship development in the state and how the state government is playing important role in providing training facilities, marketing linkages, skill development locally where not available, creating awareness among the rural areas, promoting self-employment by encouraging young graduates, women entrepreneurs, engineers and technicians from ITI and hand holding by Government agencies to support rural entrepreneurs. He also stressed on the raw material for MSMEs in the state and said that the raw materials are adequately available within the state and which are not available, there is a system to get the raw materials forms the other locations. Md Sadique Alam, IAS emphasized on how covid pandemic severely affected MSMEs in the state which impacts directly on the growth of economic of the country. The nonavailability of financing sources has become the crucial fact to promote MSMEs in the state. MSME financing has become a priority now for reviving the entrepreneur’s activities. The MSME department has been working continuously to resolve the issues and challenges faced the state MSMEs in terms of entrepreneurship development, financing etc.
There are certain targets have been prescribed for banks for lending to the Micro and Small enterprise (MSE) sector. In terms of the recommendations of the Prime Minister’s Task Force on MSMEs banks have been advised to achieve a 20 per cent year-on-year growth in credit to micro and small enterprises, a 10 per cent annual growth in the number of micro enterprise accounts and 60% of total lending to MSE sector as on preceding March 31st to Micro enterprises. In order to ensure that sufficient credit is available to micro enterprises within the MSE sector. There are about 1100+ startups in the state, across 39 sectors out of which 500+ are women-led to perform under 17 recognized incubators and receive more than 200 grants and investment opportunities. This has also helped in creating 8460+ employment in the state. Smt Vidya Krishnan, talked about how MSMEs are playing an important role in employment generation, making India self- resilient and developing the economic growth of the county. She announced that State bank of India is always ready to support MSMEs partnering with the industry associations and government as far as financing is concerned.
She also emphasized on the digitalization transformation in the MSMEs to promote the “AtmaNirbhar Bharat” the vision of state as well as centre, which may bring a good outreach for the MSMEs to strengthen capability. Shri P K Gupta emphasized on women entrepreneurship development in the state by focusing on different aspects of starting up one’s own micro or small unit. He also explained about the various schemes launched by MSME Development Institute, Government of India to encourage the women entrepreneurs and making them self resilient .
Mr J B Pany, He talked about the scenario of MSME in Odisha, in order to strengthen the Micro, Small and Medium Enterprises (MSMEs) sector, Odisha government has extended financial incentives to 278 units during FY 2020. The total amount of incentive has touched Rs 69.99 crore. Besides, the state government departments and PSUs have been directed to procure at least 20 per cent of their requirement from local MSMEs adding that in the year 2019-20 a total amount of around Rs 34.52 crore was provided as one or other incentive to 361 units. There is a need for integrated efforts to develop a robust enough financial model that can give MSMs the much-desired working capital support. Being the backbone of the Indian economy, proper and smooth funding mechanism will be extremely crucial in fulfilling the vision of Atmanirbhar Bharat. The role of funding will also be fundamental to set up small industries in rural and tribal areas thereby tapping the potential in rural and tribal India, exploring job potential in the same . Mr Rajib S Sahoo, Convenor, Finance & Taxation Committee of ICC Odisha State Council moderated and mentored the session.