Jamshedpur, Sep 20: The Confederation of Indian Industry (CII) Jharkhand is organising a conference on ‘MSME Financing – Managing Financial Crisis in Economic Downturn’ at Alcor Hotel, Jamshedpur, here on September 25, 2013. SIDBI GM Eastern Region S Ramakrishnan from Kolkata, DMD SBI JP Narayan from Patna, Mahadev Lakra from MSME department and Amit Sinha GM RBI from Ranchi will jointly inaugurated the conference at 10 am.
The conference is planned to keep the upward momentum for the development of MSME in Jharkhand despite of all these restrictions on borrowing and downturn in economy. It would focus on to provide a platform for Policy makers, Banking Institutions and Corporate to share and suggest the solutions economic scenario. It would also discuss on credit appraisal, good governance, receivable financing, alternative funding opportunities and many more issues.
The conference would have two technical sessions, focusing on financial perspective of MSMEs.
The micro small and medium enterprises (MSMEs) have been accepted as the engine of economic growth and for promoting equitable development. The major advantage of the sector is its employment potential at low capital cost, said Adarsh Agrawal Convener Economic Panel CII Jharkhand State and MD Jamipol at a press meet organized at CFE on Sep 20.
Agrawal further said that there needs to be financial awareness which majorities of the enterprises are unfamiliar with. The conference will bring the people from the Banking and industry sector which will help bridge a gap between them thereby improving
the financial conditions of the industries and the economy.
AK Srivastav of Jharkhand Chamber of Commerce and Industry said that MSME sector employs an estimated 26 million persons spread over 13 million enterprises. It is estimated that in terms of value, MSME sector accounts for about 45% of the manufacturing output and around 40% of the total export of the country.
But the sector in India is highly heterogeneous in terms of the size of the enterprises, variety of products and services, and the levels of technology. However, in recent months the global down turn has affected the MSME very adversely.
At the press meet Lovleen Bhardwaj Zonal Head of CII Jharkhand was also present.