With Prime Minister Narendra Modi’s renewed emphasis on making India a manufacturing hub through Make in India Mission along with equal emphasis on Skilling India, Micro, Small and Medium Enterprises (MSME) sector in India is looking forward to a high growth path. Worldwide, MSMEs have been accepted as the key component of industrial development and a significant contributor to national income. In a developing economy, this sector not only provides employment opportunities to millions of people, but it also creates an enabling environment for entrepreneurs to develop their talents and necessary skills.
In India too, the role and contribution of MSMEs in the growth of economy and entrepreneurship development is well established. it accounts for 40 per cent of exports and provides employment to over 10 crore people. The importance of MSMEs in our country is attributable to the fact that it has low investment requirements, location wise mobility and in many cases it uses traditional skills and natural resources.
Despite this, the MSMEs in India continue to face many challenges such as stiff competition from large scale industries, shortage of funds, lack of updated technology, unpredictable market scenario etc. Hard policy choices, challenges of implementation, regulation & governance, an uncertain macroeconomic environment and global sectoral transformation have added to the difficulties & challenges faced by the MSME sector in India. The establishment of a sound process whereby a workable course of action may be decided upon, is the need of the hour, whereby the potential for growth in the MSME sector may be unleashed in India.
A new MSME policy is on the anvil. Minister for MSME Kalraj Mishra has hinted on more than one occasions that the new policy will take realistic look at the MSME sector with making wide-reaching changes at the policy levels like setting up a dedicated fund to meet the credit requirements, altering the definition of MSMEs, etc. However, will these changes be sufficient to make the sector more competitive? Will policymakers be able to address the real issues faced by the MSMEs? Questions like these are far too many that need answer at this juncture.
The Indian Institute of Corporate Affairs (IICA) in association with the Indian Industries Association (IIA) — an apex body of Small and Medium Industries has invited the finest minds for a day-long National MSME Conclave on the 19th of November, 2014 in New Delhi to take a hard look at the real issues and look at the way forward.. Aptly named Let’s unlock India’s MSME Potential: A New Vision, the Conclave seeks to identify and address issues that are creating hurdles in the growth path of the MSME sector.
“The objective of the conclave is to help MSMEs leverage the current opportunities offered by industrialization and explore solutions to the key issues of finance availability and access to technology, skill-upgradation of manpower, manufacturing incentives and other services. In order to fulfil this objective, one complete session has been assigned to the discussion of the existing challenges and opportunities for the acceleration of growth of the Indian Large, Medium, Small & Micro units. Speakers on this panel will comprise of Senior Government officers, industry leaders and industry associations”, said Rajesh Batra, Head, Centre for MSME, IICA, Ministry of Corporate Affairs.
The National MSME Conclave will have wide participation from stakehoders of the sectors like Ministry of Micro, small and Medium Enterprises, Department of Scientific & Industrial Research, Ministry of S&T, NSIC, National Institute of Design (NID), National Institute for Entrepreneurship and Small Business Development (NIESBUD), National Skill Development Corporation Limited (NSDC), GIZ / ZDH SEQA, Engineering Export Promotion Council (EEPC), Energy Efficiency Services Limited (EESL).
Sector influencers like Snapdeal Co-Founder & COO Rohit Bansal, Navin Mistry, Head- Retail Exports, eBay India, Dolly Bhasin, MD, SPH Consultancy & EServices Pvt. Ltd, Ajay Thakur (Head, BSE SME) BSE Ltd, Devyani Hari, Responsible Enterprise Finance , Deutsche Gesellschaft für, Internationale Zusammenarbeit (GIZ) GmbH, Dr. J.S. Juneja, Chairman, Global Projects & Services (P) Ltd., Arunachalam Karthikeyan, Project Director, German Confederation of Skilled Crafts (ZDH) SEQUA gGmbH – Liaison Office (INDIA), Anup Gulati, National Skill Development Corporation (NSDC), Nidhi Lal, Founder Director, Image Catalyst will address the Conclave.
Minister for MSME Kalraj Mishra will inaugurate the Conclave.