INVC,
Delhi,
ACMA the apex body of the Automotive component industry in India, with a membership of over 670 manufacturers, organised the 2ndMSME Summit on “Innovation”. ACMA also signed an MoU with SIDBI for easy credit access for its members at the event. An expert from SIDBI will be facilitating credit and loans to the ACMA members. This process will be conducted once a week at the ACMA office for both, capital and working capital. Inaugurating the Summit, Shri. Madhav Lal, Secretary MSME said “It is indeed heartening to see the auto component fraternity come together for the 2nd MSME summit. The MSME sector is a key driver of nation’s industrial output. The Indian auto component industry needs to invest in technology, R & D, and new product development to surmount the challenges posed by emission norms, diminishing oil supply and increasing fuel prices. The government understands the need for technology in the MSME segment and hence special emphasis has been given in the 12th five-year plan. I hope this summit paves way for more innovative solutions, to brace challenges faced by the sector today”. Currently there are 2.6 million MSMEs in the country across various sectors and the automotive space is likewise dominated by them; in ACMA out of the total membership base of over 670, over 70% fall in that category. ACMA consistently works for the development of its MSME members. Speaking on the challenges of the MSME sector, Mr Surinder Kanwar, President, ACMA said, “The key challenges faced by MSMEs are similar to those of the large enterprises. But considering the relative smaller size of the sector, the issues become more pronounced whether these relate to access to capital or access to technology. I believe that this MSME summit would help in streamlining and resolving growth and exploration in newer dimensions”. One of the key stumbling blocks in the growth of the MSMEs is access to Capital and the cost of Capital. It is in this context that the in the recent Union Budget the Govt has announced to enhance the refinancing capability of SIDBI from Rs 5,000 crore to Rs 10,000 crore per year. Mr. Sunil Arora, Chairman- MSME Summit expressing his opinion on Innovations said“Innovation has to be a three dimensional coordinated activity between the Government, the Industry and the Academia. Industry – Institute tie up is an essential part of the eco- system wherein institutes provide basic and applied research input. It is with this objective, the MSME Committee of ACMA has taken this initiative of bringing the 3 stakeholders together for this MSME summit”.
