Jharkhand Industrial and Investment Policy to boost MSMEs growth

RNS: A virtual conference on “Unleashing MSME Potential in Jharkhand” was organsied by the PHD MSME Committee and Jharkhand State Chapter of the Chamber in Association with SIDBI & Supported by FJCCI.

Saurabh Sanyal, Secretary General, PHDCCI in his welcome address highlighted the challenges faced by MSMEs despite contributing significantly to the economy. 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, pointed out Sanyal.

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.

Speaking on the occasion, he briefed the schemes launched by SIDBI, which facilitate funding for production and services related to the supply of oxygen cylinders, oxygen concentrators, oximeters and essential drugs.

H P Kumar, Former CMD, NSIC & Advisor MSMEs PHD Chamber, shared 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.

He highlighted that while the Governments have taken ample measures to help and provide financial incentives to MSMEs, there is need for their adequate implementation.

Kumar suggested that the time lag in delayed payments resolution and settlement can be reduced by a digital mechanism that can help access 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.

He mentioned that PHDCCI recently signed a Memorandum of Understanding (MoU) with SIDBI to facilitate providing of various credit & other schemes of SIDBI to Micro, Small and Medium Enterprises (MSMEs) in the country.

Dr. (Prof) Raman Kumar Jha, Vice Chancellor, Amity University, Ranchi highlighted how COVID Pandemic has severely impacted the MSME sector which has further created problems related to credit financing. He said Amity University could join hands with PHDCCI to encourage the growth of small businesses and entrepreneurship in Jharkhand. Further, he also mentioned that Amity University could play 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, talked about the schemes of the Government and SIDBI for assisting MSMEs.

Singh also gave a presentation on 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 the 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, said that there is a need for a separate Ministry of MSME at the state level to spur industrial growth. He said 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 / medium enterprises.

Vishal Chaudhary, Chairman, Jharkhand State Chapter, PHD Chamber delivered the formal vote of thanks, where he expressed his gratitude to the eminent dignitaries.

The overall program was moderated by Dr Yogesh Srivastav, Assistant Secretary General, PHDCCI and was well attended by MSMEs, business fraternity, startups and aspiring entrepreneurs.

PHDCCI’s webinar was supported by DLF India; Multani Pharmaceuticals; UFLEX; JK Tyre & Industries; Marble City; Paramount Cables; SMC Investments and Advisors; Blossom Kochhar Aroma Magic; Comtech Interio; DCM Shriram Industries; Radico Khaitan; R.E. Rogers India; Ajit Industries; Synergy Environics; Timberworkz; Jindal Stainless; P S Bedi & Co; IFFCO and Hindware.

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