A high-energy event was convened in Bhubaneswar as part of a nationwide endeavor to uplift the entrepreneurial spirit and financial support for micro, small, and medium enterprises (MSMEs). The conclave, titled “Empowering MSMEs: Forging a Resilient Future,” was jointly organized by the Small Industries Development Bank of India (SIDBI) and The Economic Times.
The proceedings commenced with a compelling address by Sudatta Mandal, DMD of SIDBI, highlighting the significance of increasing credit flow to MSMEs. Mandal underscored the necessity of providing financial access to underserved and unserved MSMEs, emphasizing the importance of creating liquidity in the system.
Saswat Mishra, Principal Secretary of MSME in Odisha, provided valuable insights on the proactive policies and incentives of the state government aimed at empowering MSMEs. Mishra emphasized initiatives such as annual subsidies ranging from Rs 50-60 crore for MSMEs and new schemes to ease working capital interests.
In addition, Mishra announced that the Bhubaneswar airport had secured the necessary clearances to facilitate direct import and export of air cargo, with operations set to commence by January 31. This development is expected to benefit small-scale exporters and importers in the region.
Omkar Rai, Executive Chairman of Startup Odisha, infused the event with renewed vitality through his discussion on empowering entrepreneurship in the state. Rai highlighted the thriving startup ecosystem in Odisha and the successful ideation session that led to the selection of 100 startup ideas.
Arup Kumar, CGM of SIDBI, illuminated the various credit platforms available to support MSMEs, including the SIDBI Cluster Development Fund that aids startups through the venture capital route. The session also addressed ONDC’s role in streamlining e-commerce onboarding in India.
A captivating panel discussion on “Innovation and Collaboration: MSME Clusters in Odisha – A Catalyst for Success” provided entrepreneurs and industry stakeholders with the opportunity to share their perspectives. The dialogue delved into topics such as grassroots project preparation, cross-collaboration among MSMEs, and the importance of cost-effectiveness in healthcare innovation.
Pramod Kumar Vijayvargiya, GM of SIDBI, concluded the event by underscoring the institution’s support for MSMEs through easy credit, green finance, and assistance for women entrepreneurs. The conclave culminated in a productive Q&A session, allowing participants to seek clarification on credit and related documentation.
The SIDBI-ET MSME Conclave in Bhubaneswar forms part of a nationwide initiative aimed at fostering growth, knowledge exchange, and networking opportunities for MSMEs. With a focus on overcoming challenges and promoting sustainable growth, the conclave in Bhubaneswar serves as a testament to the collective effort to support and empower India’s small businesses.
As the series of events unfolds across the country, policymakers, ecosystem enablers, and MSMEs stand to benefit from the invaluable insights and collaborative spirit that these gatherings offer. Following its inception in Indore, the conclave in Bhubaneswar represents another significant stride towards the continued development and support of India’s MSME sector.
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