The Confederation of Indian Industry (CII) Jharkhand successfully organised a one-day MSME Growth Summit at Hotel Alcor in Jamshedpur on January 12, 2024. The event was graced by Bhor Singh Yadav, IAS, Director, Department of Industry, Government of Jharkhand, who served as the Chief Guest. With the theme "Maximizing MSME Outreach for Business Development and Sustainability," the summit aimed to unlock avenues for growth and sustainability in the Micro, Small, and Medium Enterprises (MSMEs) sector.
In his welcome address, Ujjal Chakraborti, Chairman, CII Jharkhand State Council & Managing Director, Jamshedpur Continuous Annealing & Processing Company Private Limited, underscored the vital role played by MSMEs in India's economic landscape. MSMEs contribute over 30% to the GDP, are responsible for 50% of the country's total exports, and account for one-third of India's manufacturing output. He expressed optimism that the summit would provide a platform to explore emerging trends in digital commerce, finance, and technology.
Rajiv Bansal, Convener, CII Jharkhand MSME Panel & General Manager (Supply Chain), Tata Motors Ltd, delved into the emerging trends in the industry, emphasizing the pivotal role of the MSME sector in propelling economic growth. He highlighted the sector's potential to create 600 million job opportunities in the years to come. Tapas Sahu, Co-Chairman, CII ER MSME Subcommittee & Managing Director & CEO, Highco Engineers Pvt Ltd, stressed the need to focus on adopting better technology and research and development for sustained growth.
Rear Admiral AK Verma, VSM (Retd), Past Chairman, CII Eastern Region, shed light on opportunities in the defence sector, encouraging Jharkhand MSMEs to invest in manufacturing for the defence sector. With the Union Government focusing on the 'Make in India' initiative, he highlighted significant investments from major corporate houses like Tatas, Mahindra, Adani, and Reliance in the defence sector. Jharkhand MSMEs were urged to take the initiative and seize these opportunities.
Suvendra Behera, Deputy Chairman, CII Eastern Region & VC & MD, RSB Transmissions (1) Ltd, expressed satisfaction with the recently launched MSME policy in Jharkhand, commending the State Government's firm step towards promoting the MSME sector.
Shiv Siddhant Narayan Kaul, Chairman, CII Eastern Region & Managing Director Nicco Industries Ltd, delivered the keynote address, setting the tone for the summit.
The Chief Guest, Bhor Singh Yadav, IAS Director Department of Industry Government of Jharkhand lauded the efforts of CII Jharkhand in promoting knowledge
He said that the State Government is taking every step to promote MSME in the State. After the successful launch of the policy, the Government is also gearing up to set up MSME Commissionerate. The move will ensure better implementation of the policy. MSME Commissionerate is expected to start functioning this year. He also invited all the entrepreneurs to take benefits of capital subsidy that has been increased from 25 per cent to 40 percent in the new policy.
Ranjot Singh, Vice Chairman CII Jharkhand State Council & Managing Director Emdet Jamshedpur Pvt Ltd, extended a vote of thanks, expressing gratitude to all participants.
