Indian Merchants’ Chamber as well as the Institute of Firm Secretaries of India have jointly organised a Conference on ‘The Growth Outlook for MSMEs in India’ at the ICSI-CCGTR, Navi Mumbai today. Various aspects of MSMEs such as – Establishing of an MSME, Funding & Incentives, Lasting growth as well as Challenges & Competitiveness were reviewed at various sessions in the Conference. “Today MSME sector adds 45 percent of the country’s exports as well as 40 percent of the county’s production therefore playing a critical function in the development of our economic situation,” stated Mr. Sushil Manhot, Chairman, SIDBI talking at the celebration. “MSME market is expanding much larger than the bigger corporate field and also this appears from the 20 per cent growth of financing by the
banks because last 5 years to this sector,” said Mr. Sanjiv Saraff, Senior Vice Head Of State, Financial Investment Financial, ICICI Securities Ltd and also Co-Chairman, MSME Board, IMC. The adhering to points were gone over as well as agreed by the Seminar as
the major difficulties faced by the MSME market:
* Proficient manpower
* Shortage of Electrical power
* Shortage of credit score facility
* Standard Infrastructure facilities
* Multiplicity of Labour laws
* Lack of IT proficiency
The Meeting also agreed that the MSME sector have to comprehend and ensure that their business design can make money, then only they obtain the assistance of banks. , Mr. Ganesh Pillai Joint Director, IMC proposed the vote of many thanks.