Secretary General, PHDCCI, Saurabh Sanyal, in his welcome address highlighted the challenges faced by MSMEs despite contributing significantly to the economy. Challenges like bottle necks, constraints in technology adoption, high Logistics cost and lack of access to credit have been further compounded for the MSMEs due to the Covid 19 pandemic, pointed out Sanyal. He underlined that non availability of adequate and timely credit is a serious problem which the MSMEs are facing currently. To address these liquidity problems, credit support has been announced by the Government through the Atmanirbhar package. Lastly, he talked about the schemes launched by SIDBI which facilitate funding for production and Services related to supply of Oxygen cylinders, oxygen concentrators, oximeters and essential drugs.
Former CMD, NSIC and Advisor MSMEs PHD Chamber, H P Kumar, shared the difficulties and challenges faced by the MSMEs.
He talked about the Industry perspective of the MSME Sector and briefed about salient features of the Jharkhand Industrial and Investment Policy (JIPP) which is quite favourable for MSMEs Growth and to attract more investment in the state.
He highlighted that while the Governments have taken ample measures to help and provide financial incentives to MSMEs, there is need for their adequate implementation.