Technology to be key differentiator for MSME: Panda
Excelsior Correspondent
JAMMU, June 7: Access to collateral free credit, equity infusion through “funds of funds”, and subordinate debt for stressed MSME in the recently announced stimulus package, if leveraged effectively, can help MSME to not only to reboot themselves from the COVID-19 crisis, but will also facilitate them to scale up their operations to be globally competitive.
This was stated by Arun Kumar Panda, former Secretary, MSME, Government of India and the architect of the stimulus package while speaking at 7th Shri Ram Sahai Memorial Lecture on “Rebooting Stressed Economy: Leveraging Stimulus Package for MSMEs” organized by Indian Institute of Public Administration, J&K Regional Branch (IIPA JKRB).
While explaining the contours of the stimulus package, he said that the decisions taken by Central Government to support MSMEs were historic in nature and urged upon the stakeholders to reduce their overdependence upon debt by leveraging Rs 50,000 crore equity infusion scheme.
“It will give them access to the funds of venture capital firms and will enable competitive MSMEs to list on stock exchanges,” he said.
According to him, technology will be a great differentiator and access to technology will be the key to become globally competitive.
Panda outlined the role to be played by the banks, Industrial associations and the State Governments in the implementation and facilitation of the package.
Arun Gandotra, Executive President Credit, J&K Bank in his address discussed the highlights of the stimulus package from the bankers’ perspective.
SN Tripathi, Director IIPA New Delhi, while addressing the stakeholders said that 360 degree reforms initiated by Central Government to support MSME, should receive adequate support by the state Governments and the bankers, by creating an environment of mutual trust.
BR Sharma, Chairman, PSC and Chairman, IIPA, JKRB in his presidential address opined that resilience of MSMEs was important in India, but considering the region of J&K, there were some region specific issues, which need to be considered while implementing the package.
Earlier, KB Jandial, Director, Seminars, IIPA JKRB paid rich tributes to Ram Sahai and recollected his immense contribution to the growth of IIPA in J&K and the region in totality.
Prof Alka Sharma, Hony Secretary IIPA J&K Regional Branch formally welcomed the audience.
Rahul Sahai, Chairman Sahai Group Of Companies, Former Chairman of CII, Co-Chairman of PHD Chamber of Commerce & Industry (Jammu) and Chairman of Transport Nagar Association presented the formal vote of thanks.
Dr Anil Gupta, Joint Secretary IIPA J&K Regional Branch coordinated the webinar.
The virtual webinar was attended by over 125 people from industry, trade, civil society, academicians and members of IIPA including Dr Ashok Bhan, Kuldeep Khoda, Er JBS Johar, Mushtaq Chayya, AM Watali, Vikrant Kuthiala, Arun Kumar Gupta, Sudhir Chandra, Sanjay Bansal, Lalit Mahajan, Annil Suri, Neeraj Anand, Rakesh Wazir, Shivang Satya Gupta and other prominent citizens of the UT.
Follow our WhatsApp channel