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MSMEs need to adopt proper business module, says CS Setty, Managing Director, SBI at CII Integrate 2020

CII-organises-e-conference-on-industrial-safety

Confederation of Indian Industry (CII), Andhra Pradesh organized Integrate 2020 a conference cum exhibition with the theme of Connect with the World of Opportunities through virtual platform.

Addressing the Inaugural Session of Integrate 2020, Mr C S Setty, Managing Director, State Bank of India appreciated CII for organizing Integrate 2020 through virtual conference cum exhibition and promoting the industry in view of COVID-19 pandemic. Referring to the current scenario he said industries need to adopt the right Strategy, Governance, and Technology to mitigate the problems of Micro, Small and Medium Enterprises. He suggested to industry to use the funds in the right direction by having a proper business modules.

He mentioned that SBI is working on setting up of an e-commerce portal called Bharat Craft for the marketing of products manufactured by micro, small and medium enterprises (MSMEs) with the facility of financing options to meet the immediate business requirements.

Mr R Pavana Murthy, ITS, Chief Executive Officer, Andhra Pradesh MSME Development Corporation in his address said that Micro, Small and Medium Enterprises (MSME) sector has emerged as a highly vibrant and dynamic sector of the Indian economy and in recent years the MSME sector has consistently registered higher growth rate compared to the overall industrial sector in India.

MSMEs not only play crucial role in providing large employment opportunities at comparatively lower capital cost also help in industrialization of rural & backward areas, thereby, reducing regional imbalances, assuring more equitable distribution of national income and wealth said Mr R Pavana Murthy. He stated that the ‘Atmanirbhar Bharat Abhiyaan’ is being hailed as major fiscal stimulus and relief package for MSMEs to assuage India’s economic predicament amidst the pandemic.

He also mentioned that Government of Andhra Pradesh is focusing on the development of infrastructure by setting up three major seaports, an international airport, and upgrading airports in the State which will provide huge business opportunities to MSMEs.

Mr A Rama Mohan Reddy, IFS, Development Commissioner, Visakhapatnam Special Economic Zone, Ministry of Commerce & Industry, Government of India in his address said that VSEZ works to provide huge employment opportunities, attract investment and promote exports and playing a vital role in the growth of the economy. Referring to one of the visions of the honorable prime minister of India which Making India a manufacturing hub he said that VSEZ provides single-window clearance opportunity and encourages the MSMEs to set up their units in SEZ at very reasonable land cost.

Mr D Ramakrishna, Chairman, CII Andhra Pradesh in his welcome address said that identifying the business opportunities, enhancing the skills & knowledge, and adopting digital technology are important areas for growth for the industry. He felt that industries need to take advantage of digital trade fairs, exhibitions, and conferences to explore the business opportunities in that current scenario.

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