The MSME Committee of PHDCCI organised a Workshop on Working Capital Assessment for Sanxction of Credit Limits on 22 June 2022 at PHD House, New Delhi.
Mr D P Goel, Chair, MSME Committee, PHDCCI welcomed the speakers and delegates and highlighted in his address various pressing issues of MSMES in their daily business operation..
Dr. R K Bharti, Joint Director HOO, MSME-DI, Okhla, Ministry of MSME, Government of India apprised the MSMEs of the various Government schemes available. He further added that successful entrepreneurs are the ones who take maximum risk. He also encouraged and motivated the MSMEs to follow the 4-D approach in entrepreneurship namely – Desire, Direction, Determination and Discipline.
Mr. Krishna Kamat, Executive Vice President, YES Bank mentioned about the bank’s close working with the MSME sector since its inception. He further added that MSMEs need to be empowered with digital solution. He also shared that MSMEs contribute almost about 29% to India’s GDP. Current GDP of India is about USD 3 trillion and current contribution of MSMEs in India’s GDP is about USD 1 trillion. This shows that MSMEs have an opportunity to double their contribution to meet the target of USD 5 trillion.
Dr. H P Kumar, Former CMD, NSIC and Advisor, PHDCCI apprised the bank of the credit gap which persists since long time. He further mentioned that micro and small units are struggling for credit from banks. Medium and large enterprises that are unable to repay the loans on time are becoming NPA and damaging the balance sheet of banks, whereas NPA in micro and small sector is less.
Mr. P Ravi Kumar, Chief General Manager, NSIC explained about the various schemes of the Ministry of MSME available for the MSMEs from both Central and State Governments.
Mr. Sunil Kumar, MSME-DI, Okhla, Ministry of MSME, Government of India highlighted the schemes for MSMEs. He further suggested all MSMEs to register on Udyam portal before 30th June 2022, which is a prerequisite for availing the benefits of schemes or programmes of the Ministry of MSME.
Mrs. Arpita Chattopadhyay, Vice President gave insights on innovative methods of trade finance. She further explained about YES SPARK which is a start-up funding of YES Bank involving collateral free lending up to INR 5 crores with mandatory registration with DPIIT.
Mr. Sameer Nayyar, Co-Chair, MSME Committee, PHDCCI extended a formal vote of thanks and requested YES Bank to proactively look into the financial health of MSMEs especially the micro and small enterprises and help them in sanctioning their credit limit.
The Event was sponsored by PHDCCI’s Annual Sponsors – Multani Pharmaceuticals Ltd; Star Wire; PG Industry; Uflex Ltd; DLF Ltd; Continental Carriers Pvt Ltd; Belair Travel & Cargo Pvt Ltd; Radico Khaitan Ltd; Jindal Steel & Power; MMG Group; Paramount Communications; Superior Industries Limited; JK Tyre & Industries Ltd; SMC Investments and Advisors Ltd; Crystal Crop Protection Ltd; Sagar Group of Industries; Samsung India Electronics; Comtech Interio; R E Rogers; AYUSH Herbs Private Ltd; Apeejay Stya Group; DCM Shriram; EaseMyTrip; Blossom Kochhar Beauty Products Pvt Ltd; Oswal Greentech; Trident Group; MV Cotspin Ltd; Synergy Environics Ltd; Ajit Industries Pvt Ltd; P S BEDI & Co.; Indian Farmer &Fertilizers Corporation Ltd; Jindal Steel; Hindware Sanitary; Modern Automobiles; Livit Ltd; Central Coalfields Ltd ; Axa Parenterals; Bhagwati Plastic and Pipes Industries; J K Insurance Brokers Ltd; DD Pharmaceutical Ltd.
This article was shared with Prittle Prattle News as a Press Release.
