‘Exploring new markets, collaboration hold key for MSMEs’ growth path’

Industries Secretary Jayesh Ranjan.   | Photo Credit: MohdArif

Making effective use of digitalisation, exploring new domestic and export market and collaboration among themselves would hold the key to sustainable growth for MSMEs post COVID-19, Principal Secretary IT and Industries Jayesh Ranjan has said.

Speaking at a conference on “empowering MSMEs and bringing the growth back amidst the changing trade dynamics” organised by the Confederation of Indian Industry (CII) here on Saturday he stated that there were evident signs of economic recovery with the way the manufacturing sector was rebounding and the GST collection was increasing. There was a definite opportunity for MSME sector to start riding on this economic revival, he noted.

“This unprecedented scenario requires coordinated and genuine effort from within the sector to overcome supply chain challenges, although there are solutions available. But, the need of the hour is to change mindset and attitude and make technology adoption easy,” the Industries Principal Secretary said.

He mooted the idea of encouraging industry associations, particularly MSME bodies, to adopt and work very closely with ITIs to overcome the challenges of skilled professionals.

Country Head- India of the International Finance Corporation Jun Zhang, who joined the event virtually from Washington briefed members on the IFC operations in India. He added that US$ 8 billion fund was fast-tracked for financing and US$ 4 billion had been disbursed already to sustain businesses and preserve jobs after the COVID outbreak.

Stating that that there was a 60% to 80% spike in new sellers registering on, Pranav Bhasin, director, MSME & Seller Experience at Amazon India, said there were more than 6.5 lakh sellers on Amazon India marketplace from different corners of the country and 90% of these sellers were micro-entrepreneurs as well as small and medium businesses.

“Telangana is an important market for us and we have made significant investments here. From Telangana, we have over 23,000 sellers on selling a wide range of products,” Mr. Bhasin said. Through the Karigar initiative, they had on board more than 3000 master weavers, co-operatives, artisans and their apex bodies to sell online, he added.

Chief General Manager of State Bank of India O.P. Mishra, chairman-EEPC and mentor of CII-Telangana MSME Panel and managing director of Meera & Ceiko Pumps Mahesh Desai, vice chairman CII Telangana and managing director of Coromandel International Sameer Goel, convener- CII Telangana MSME Panel and managing director of Appidi Technologies A.V.S. Reddy and others spoke.

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Printable version | Jan 20, 2021 6:07:22 PM |

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