Jasbir Singh, Zonal General Manager-NCR, National Small Industries Corporation (NSIC), highlighted the initiatives undertaken by NSIC. One of the most important initiatives was that as a nodal agency, NSIC operates a Single Point Registration Scheme under the Government Purchase Programme, wherein the registered Small Scale Industries (SSI) units get purchase preference in government purchase programme, exemption from payment of Earnest Money Deposit and other such benefits.
Sanjay Bhatia, President, FICCI-CMSME and MD, Hindustan Tin Works Pvt Ltd., said that it was imperative to work towards removing the bottlenecks inhibiting the growth of MSMEs so as to enable the sector to respond effectively to challenges.
Hence, providing a favourable ecosystem was a necessary part of
enabling growth of MSME sector. This in turn required reliable
partners who could provide these enterprises with requisite help in
scaling up their business and making them competitive for entry into
the global value chain.
In his concluding remarks R. Narayan, Vice-President, FICCI CMSME and Founder & CEO, Power2 SME, said that the role of the MSME sector as a development partner of Government in India faces fundamental challenges, including insufficient infrastructure and inadequate access to power and financing.
Furthermore, the sector was largely dominated by informal sector.
It was imperative for government-led sector development programmes to
give a high priority to the development of MSMEs, and promote
entrepreneurship and ownership of enterprises, especially among first