AICOSMIA National President Shri Sudarshan Sareen addressing the national conference on MSMEs“The Ministry will come out with a new format soon to take all the permissions for setting up MSME units in one go and within a certain time frame”, said Shri Kalraj Mishra, Minister for MSME while referring to simplifying procedures and ease of governance. He was addressing the National Conference on Employment Generation to MSMEs and Credit Flow to MSMEs. The conference was organized by All India Confederation of Small & Micro Industries Association (AICOSMIA) in New Delhi.

Referring to the problem of credit to the MSMEs, Shri Mishra said that the Government is aware of the problems and the issue will be addressed at the appropriate level. “We need to take an integrated approach to resolve the problems faced by the MSME sector. The “Make in India” mission can only be successful if we take a holistic view of development”, added the Minister.

Addressing the conference Shri Sudarshan Sareen, National President (AICOSMIA) said that MSMEs face a tough competition from Chinese market. However, in China the rate of Interest for credit to MSME is 2-4 per cent, while in India MSMEs get the credit at 12-14 per cent.” In order to compete with China, it is imperative that this gap is reduced, said Shri Sudarshan Sareen. He demanded that credit should be made available to this sector at the same rates that are offered to Agriculture sector.

Narrating his experiences with Chinese and Taiwanese markets, Dr Ajoy Bhattacharya, Vice-President, AICOSMIA said that to realise the goal of ‘Make in India”, Government will have to come forward in re-engineering sunrise sectors like renewable energy and food processing. China and Taiwan have done this successfully, he added. Dr Bhattacharya emphasized that there is a great need to establish a link between the entrepreneurs and innovators.

Dr HP Kumar, former CMD, NSIC said that the one of the major tasks to strengthen the sector is to set up new units through promoting incubation centers. Incubation centres can paly a crucial role in generating skill-full employment at an incredibly low cost while strengthening the MSMEs at the base level.

The conference was addressed by representatives of SIDBI, NSIC, and SBI among others.