Jha sees Amity University providing assistance to MSMEs
Challenges like infrastructure bottlenecks, constraints in technology adoption, high logistics cost and lack of access to credit have been further compounded for the MSMEs due to the Covid-19 pandemic, observed Saurabh Sanyal, Secretary General, PHDCCI.
Addressing a “Virtual Conference on Unleashing MSME Potential in Jharkhand” on 30 July 2021, he underlined that non availability of adequate and timely credit is a serious problem which the MSMEs are facing currently. To address these liquidity problems, credit support has been announced by the Government through the Atmanirbhar package.
Lastly, he highlighted schemes launched by SIDBI which facilitate funding for production and services related to supply of oxygen cylinders, oxygen concentrators, oximeters and essential drugs.
H P Kumar, Former CMD, NSIC & Advisor MSMEs PHD Chamber, listed out the difficulties and challenges faced by the MSMEs. He talked about the industry perspective of the MSME Sector and briefed about salient features of the Jharkhand Industrial and Investment Policy (JIPP) which is quite favourable for MSMEs’ growth and to attract more investment in the state.
While both the Central and State Governments have taken ample measures to help and provide financial incentives to MSMEs, there is need for their adequate implementation, according to Kumar.
He suggested that the time lag in delayed payments resolution and settlement can be reduced by a digital mechanism which can help in accessing proper evidence and documentation made available on digi-locker and other means.
Mohit Jain, Chair, MSME Committee, PHD Chamber, apprised about PHD Chamber’s MSME Mentoring and Guidance Centre, which has been proactively engaged in providing value-added services with complete handholding and mentoring support to the needy MSMEs.
PHDCCI has recently signed a Memorandum of Understanding (MoU) with SIDBI to facilitate providing of various credit and other schemes of SIDBI to MSMEs, he pointed out.
Dr. (Prof) Raman Kumar Jha, Vice Chancellor, Amity University, Ranchi, noted how COVID Pandemic has severely impacted the MSME sector which has further created problems related to credit financing.
Amity University could join hands with PHDCCI to encourage the growth of small businesses and entrepreneurship in Jharkhand, he said.
Further, Jha also sees Amity University playing a key role in providing training and awareness of various schemes and assistance in documentation to MSMEs Jharkhand MSME Clusters.
Raj Kumar Singh, Manager, SIDBI Ranchi Branch, Jharkhand, presented various schemes offered by SIDBI namely SAFE (SIDBI Assistance to Facilitate Emergency response against Corona Virus), SHWAS (SIDBI assistance to Healthcare Sector in War against Second wave of COVID-19) and AROG (SIDBI Assistance to MSMEs for Recovery & Organic Growth during COVID-19 pandemic) for quick credit delivery.
Deepak Maroo, Past President, Federation of Jharkhand Chamber of Commerce, Ranchi, has called for a separate Ministry of MSME at state level to spur industrial growth.
Jharkhand Industrial and Investment Promotion Policy 2021 will help all MSMEs in the State especially the high-priority sectors like textiles & apparel, automobiles, auto-components & electric vehicles, agro-food processing & meat processing, pharmaceuticals and electronics system design & manufacturing (ESDM) to encourage start-ups and small and medium enterprises, the conference heard.
The PHD MSME Committee and Jharkhand State Chapter of the Chamber organized the conference in association with SIDBI and Supported by FJCCI. #investment #banking #economy #manufacturing /fiinews.com
