Business Bureau :
The Indian MSME sector is the backbone of the national economic structure and has unremittingly acted as the bulwark for the Indian economy by providing it resilience to ward off global economic shocks and adversities. Although, it is passing through a very difficult phase due to pandemic, it will bounce back and will sustain the growth rate. Ministry of MSME is fully committed to provide whatever best possible support and concessions to them, said Nitin Gadkari, Union Minister of Transport & MSME while addressing the national webinar on ‘Roadmap for MSME’ organised by COSIA and hosted by Vidarbha Chapter. He further said, with around 63.4 million units throughout the geographical expanse of the country, MSMEs contribute around 6.11% of the manufa cturing GDP and 24.63% of the GDP from service activities as well as 33.4% of India’s manufacturing output. They have been able to provide employment to around 120 million persons and contribute around 45% of the overall exports from India.
The sector has consistently maintained a growth rate of over 10% and said, he was confident that after passing of this difficult phase it will revive, sustain and progress with good growth rate. Gadkari said, about 20% of the MSMEs are based out of rural areas, which indicates the deployment of significant rural workforce in the MSME sector and is an exhibit to the importance of these enterprises in promoting sustainable and inclusive development as well as generating large scale employment, especially in the rural areas. The national-level webinar discussed challenges faced by MSMEs like stoppage of production, non availability of manpower/labour, demand for consumption, lack of finance, banks hesistancy to give loans, decline in exports, disturbance in supply chain of raw materials, delay in payments of MSME by Government/large companies, labour reforms, high cost of power. Participants from various parts of the country put forth their queries to the Minister and he assured to address it shortly.
He also requested the organisers to compile systematically all the issues discussed and send to MSME Ministry for resolving it. Panel speaker P M Parlewar, Director, MSME-DI, Nagpur made a presentation on the PPE kits manufactured at Nagpur in the garment cluster under the guidance of Nitin Gadkari which is a very positive example for boosting the local manufacturing. He also shared insights on the various aspects of the cluster development. Another panel speaker D Prasad Rao, Branch Manager, SIDBI, Nagpur made a presentation on the various financial schemes of term-loan and working capital floated by SIDBI to aid the MSME sector. CA Julfesh Shah, Vice-Chairman of COSIA, Vidarbha Chapter and presenter of the webinar moderated the proceedings and co-ordinated the programme.
He thanked the Government for providing big booster stimulus package for MSMEs and also the change in definition of MSME will be beneficial to more units. Mayank Shukla Chairman of COSIA, Vidarbha Chapter made the introductory remarks and also put forth various labour related issues especially faced by the units in Vidarbha. Sandip Parikh, Vice- President of COSIA, Ninad Jaywant and Purushottam Agwan, general secretaries, COSIA, Samir Shirodkar, Shekar Patwardhan, Pranav Ambaselkar, Ravleensingh Khurana and others prominently participated in the webinar.