FICCI organises virtual conference, 4th edition of Rajasthan MSME Summit
Jaipur: The spread of corona virus and resultant lockdowns have led to serious disruptions for businesses especially MSMEs. Against this backdrop and on the eve of “International MSME Day, FICCI Rajasthan State Council today organized the virtual conference, 4th edition of Rajasthan MSME Summit with the theme “Revitalising MSMEs for Atmanirbhar Rajasthan”.
Addressing the virtual summit, Chief Guest, Shri Parsadi Lal Meena, Minister for Industry, Government of Rajasthan elaborated how the state government is determined to support and enhance MSME sector. He said, “The government is working for the cause of industries and has special focus on MSME sector. Because of this thought process, we have introduced MSME act, under which no permission or formality is required for establishment up to three years. The procedure is also kept very simple and one can avail this easily by registering itself at Udhyog Mitra Portal and we are pleased to share that around 5000 entrepreneurs have registered till date. In addition to this under the 'Mukhyamantri Laghu Udhyog Protsahan Yojana', the government has sanctioned budget of 250 crore rupees to support a MSME sector.”
Shri Meena also added that, to encourage Industrialists of Rajasthan to establish industries in the state, the government has offered 75 to 100 percent rebate in SGST for the period of 5 to 7 years under Rajasthan investment Promotion Scheme. Shri Meena urged the banking fraternity to address the concerns of the industry members and provide them relief in this time of crisis.
Addressing the summit, Mr. Rajiv Arora, President, Federation of Rajasthan Exporters (FORE) praised Government of Rajasthan’s efforts to re-establish industries post lockdown and shared that the Gems & Jewellery Industry of Jaipur is now getting back on track and getting orders while majority of the gems and jewellery industries are still shut in Mumbai & Surat. He also shared that the industry is open to skilling and training the migrant labours who are back and in State and shall even give them jobs in near future.
According to him, India needs to spend a lot of budget on Research and Development for an Atmanirbhar Bharat and that innovation along with R&D needs to be done on a large scale in the country. He also mentioned about making changes in our Import and Export policies in order to gain from the international environment and competitively position ourselves.
Addressing the conference virtually, Mr. Prabhat Kumar Jha, Zonal General Manager – Central Zone, National Small Industries Corporation (NSIC) said that NSIC has been working closely with the MSMEs to close the gaps in supply of scarce raw material. According to him, the latest announcement of the Atmanirbhar Bharat abhiyaan economic package to help MSMEs come out of their worst economic crisis is like a ray of hope for the sector.
Sharing about how India has demonstrated during the covid 19 crisis, how to organize for it's own needs while most countries were dependent on other nations, Mr. Jha shared that Indian MSMEs helped more than 100 countries by supplying various products and medicines, masks and other covid related products which were hardly made in past by our MSME sector. According to him, it is not just in the times of crisis that we should become self reliant, it has to become the life mantra because our MSMEs have the capability and capacity to make everything of great quality that will also provide us the opportunity to export not just locally become globally too.
Addressing the virtual conference, Mr. Govind Singh Rawat, General Manager, State Bank of India said, “State bank of India has taken various initiatives to counter the impact of unprecedented times of COVID-19. From the month of April, we have offered 10% loan to our borrowers. Under the Government of India’s guaranteed emergency credit line scheme we have sanctioned 1100 crore rupees and disbursed 800 Crore out of this. In addition to this, under the eMudra scheme, one can avail upto Rs.50,000 loan digitally without visiting the branch.”
Earlier presenting his welcome remarks, Mr. N K Jain Chairman, FICCI Rajasthan MSME Sub-Committee & President, The Employers Association of Rajasthan said that with Atmanirbhar Rajasthan, Rajasthan MSMEs will be benefited to a great extent and the new RIPS (Rajasthan Investment Promotion Scheme) 2019 policy launched by Government of Rajasthan will also help growth of industries in Rajasthan. According to him, this policy will prove to be a milestone for industries in order to attract new investments from around the globe by providing better land and infrastructure and better policies for the establishment of industries in Rajasthan, giving a boost to industrial and MSME growth.
Presenting the theme address, Mr. K K Gupta, Director, Resurgent India Limited mentioned that this is a very important webinar for MSMEs as they have faced a lot of trouble due to the ongoing pandemic. Talking about SME sector being backbone of economy, he shared that about 28% of GDP is contributed by the industries in economy of the state and about 90% of the SME sector represented the industry therefore from employment to GDP or Export, SME sector plays a very important role. He also talked in detail about the various policies launched by RBI post covid like Term Loan Installments, Working Capital Limit etc. Mr. Gupta also threw light on business restructure policies to help businesses re-establish themselves.
Sharing his views on the subject, Dr K L Jain, Honorary Secretary General, Rajasthan Chamber of Commerce and Industry (RCCI), talked about 3 Lakh Crore Package announced by the Government of India for MSME sector. According to him, “The gap between sanction and disbursement should be reduced. The sanction too should simultaneously follow with the disbursement because the earlier the amount is disbursed, the easier it will be for businesses to get the momentum.” He also mentioned that State Government along with RBI should monitor day-to-day the sanction and disbursement of funds to industries.
During the summit, a panel discussion on Access to Affordable Credit to Revitalize MSMEs and Economy saw Mr. Mukesh Kumar, Deputy General Manager, Financial Inclusion and Development Department, Reserve Bank of India; Mr. Vinod Kumar Singla, Deputy General Manager – SME, State Bank of India and Mr. Vivek Singhal, Deputy General Manager – SME Loan Factory, Bank of Baroda discuss in detail about the policies and procedures for disbursement of funds for MSMEs.