PHD Chamber of Commerce and Industry has organised an MSME Financing Seminar in collaboration with Department of MSME, Government of Uttarakhand and in association with members Bhagwanpur Industry Association at Bhagwanpur Roorkee on Tuesday.
Eminent speakers, including State Cabinet Minister Harish Chandra Durgapal, RBI Regional Director Rl Sharma, SIDBI DGM Durgesh Pandey and Doon University Dr S Joshi spoke about on how to meet the objective set to reinstate the commitment of the stake holders in promoting greater finance for MSMEs, and looking for innovative ways to overcome the current challenges to the Growth of this market, critical for national economic growth.
Anil Taneja, resident director, MSMEs had been outperforming compared to GDP growth. The MSME registered growth rates of more than 10% every year for last decade. The growth rate of 2011-12 was registered to be 19.06% as per the ministry of MSME Govt of India and since then there has been an impetuous felt in the sector. Inadequate financing in MSME is a major constraint in the growth of this sector which has a very high potential of growth in emerging India.
Disclosing about the new MSME policy, state cabinet minister HC Durgapal said that government objective is to enable inclusive growth and economic development of the hilly regions. As the Hill policy focused on MSME has already getting positive response and new MSME policy is now passed in cabinet is provided with many more incentives and schemes to create a conducive environment for Hill's growth. The new policy has been brought out with a focus to increase the capacity by encouraging entrepreneurship and self employment.
On the issue of financial constraints for MSME Additional Director SC Nautiyal shared various aspects of new policy. Ranan Usman AVP from National Stock Exchange stated that SME Exchange platform is an option which SME can benefit from for enhancing the financial access and thus capacity.