Vietnam seeks to promote trade with MSMEs of Odisha

Bhubaneswar: Addressing the participants during the seminar on “Credit & Marketing Linkage to MSMEs & Exporters”, which is being held on the sidelines of Odisha MSME International Trade Fair-2019, Hon’ble Minister, MSME, W&CD & SSEPD, Odisha stated that MSMEs have a major contribution in the State’s economy. Government of Odisha has prioritized development of MSME sector with a slew of policy initiatives and incentives to promote growth and employment in the state.
Delivering a Special Address, His Excellency Mr. Phan Sansh Chau, Ambassador of Vietnam invited MSMEs of Odisha in sectors particularly, Food Processing, Travel, Tourism, Pharma, Health Care, Handloom and Handicraft sector for trade with Vietnam. He expressed his happiness that the quantum of trade between India & Vietnam has increased by 40% during 2018. Citing the analogy of MSMEs in Vietnam with that of Odisha, he suggested for adopting “Consume Goods & Services in Odisha”. He also interacted with the members of different Industries Associations namely, UCCI, OSSIA, OYEA and OASME in a separate meeting in the afternoon to explore potential of trade promotion in varied sectors.
Speaking on the occasion, Shri L.N. Gupta IAS, ACS, MSME informed that the MSME sector is a predominantly Micro Sector. 99% of enterprises relate to Micro category. In this context, he suggested for conducting a fresh census of MSMEs by Government of India to ascertain the ground status of MSMEs. Highlighting the present credit requirement of MSMEs in the country, which is estimated at Rs.45 lakh crore, he stated only Rs.25 lakh crore of credit demand in the country is being met currently, leaving a gap of Rs.20 lakh crore. He impressed upon the bankers to improve the ratio of formal credit from 23% to 50% commensurate with contribution of MSMEs to the GDP and exports. He added that about 473 Bank Branches have been designated as MSME specialized Branches across the State and requested the MSMEs to take advantage of them. Besides, he indicated that State Government has signed an MoU with Quality Council of India (QCI) to facilitate ZED certification and MSMEs should register for ZED Certification for which incentives are available under Odisha MSME Development Policy, 2016. He also advised the local MSMEs to register under GeM for expanding their market outreach throughout the country.
Addressing the seminar, Sri M.K. Mall, Regional Director, RBI, Bhubaneswar briefed about the direction of RBI for extending credit to MSMEs. He highlighted on initiatives like Town Hall programme, Counselling Programmes for Bankers, etc and provision of OTS and management of stressed accounts of MSMEs.
Chief General Manager, SBI, Bhubaneswar Mrs Praveena Kala, highlighted on developing repayment culture and modalities for availing of loan. While indicating the challenges of the sector, she suggested that MSMEs should understand their market and also have adequate stake through seed capital for their sustainability. She also informed about enabling initiatives like Contact-Less Platform, “59 minutes loan”, CGTMSE, Standup India, MUDRA, GeM, etc.
Shri Sudhir Garg, CMD, NSIC & Jt. Secy, Ministry of MSME, Government of India announced willingness for signing an MoU between NSIC & MSME Department, Government of Odisha to facilitate handholding and providing marketing support to MSMEs of Odisha. He also suggested for partnership among the MSMEs, improving quality and use of technology like virtual reality & artificial intelligence to overcome the threats of big Corporates and improving access to national and international market. He advised MSMEs to take steps for branding & showcasing their products globally by using technology.
Shri Ashish Mathur, Managing Director, TATA Steel Special Economic Zone Ltd in his address admired the stable and able leadership of the State. He emphasized on key elements such as use of technology & e-commerce, access to infrastructure, access to funds, access to the people, retaining the work force and locating at right place for the promotion and growth of MSMEs. The cost of business in Odisha is relatively low in comparison to other States, which should be capitalized by the MSMEs. He suggested that MSMEs should dream to upscale to be Large Industry. He invited upcoming MSMEs to avail the facilities created in the Special Economic Zone at Gopalpur.
Sri Himanshu Sekhar Mishra, President, OSSIA shared the views of entrepreneurs fraternity regarding issues on credit & marketing. The sessions on Credit & Marketing Linkage to MSMEs & Exporters witnessed overwhelming participation from Entrepreneurs, Banks, officials from Govt. of India & State, Industries Associations, Sectoral Exports. Shri Pranabjoyti Nath, IAS, Director of Industries, Odisha welcomed the dignitaries and participants and Shri S.K. Jena, Director Export Promotion & Marking, Odisha gave vote of thanks.