INVC,,

Chandigarh,,

Chandigarh Management Association (CMA) in association with Indian Overseas Bank (IOB) today organized “MSME In India – Challenges & opportunities”. Sh.A.K.Bansal, Executive Director(ED), Indian Overseas Bank (IOB) was the chief guest. Dr. Anshu Kataria, Chairman, Aryans Group of Colleges  & President, CMA & Mr. Naval Gupta, Chief Regional Manager (CRM) presided over the event. Hundreds of Industrialist/Entrepreneurs/Professionals/Academicians attended this event.

The event was supported byAryans Group of Colleges (AGC), Confederation of Indian Industry (CII), PHD Chamber of Commerce and Industry (PHDCCI), Institute of Chartered accountants of India (ICAI).Many eminent speakers/entrepreneurs including Mr. Vikram Hans, Chairman, CII, Sh. J.N. Vohra (CMA), CA Kapil Sebherwal Chairman (ICAI) were also present on the occassion.

While Addressing the media , A K Bansal, Executive Director(ED), Indian Overseas Bank said that MSME’s are the fountain head of several innovations in manufacturing and service sectors, the major link in the supply chain to corporate and the PSUs. It is therefore important to empower MSME segment in order to increase its contribution towards the Indian economy, he further added.

By promoting MSMEs, the smaller towns of India will be developed giving direct and indirect employment to lakhs of people. He also said that in order to facilitate MSME segment the banks have already announced so many schemes. Further to facilitate this segment the bank also has plans to open 3 specialised branches in Kaithal and Panipat (Haryana) and Mandi Gobindgarh (Punjab) in a time span of two months, informed Bansal.

MSME is already a big customer of bank and after the opening of these specialised branches the growth rate of bank’ business would also further increase. On the same hand it is noteworthy that MSME faces a number of problems in absence of availability of suitable technology, low production capacity, effective marketing strategy, identification of new markets, and easy finance from banks which becomes a constraint on their modernization and expansion. The specialised branches of bank would look try to resovle the challenge of industry, lamented Bansal.

Speaking on the occasion Dr. Anshu Kataria, President CMA, said that Micro Small and Medium Enterprises (MSMEs) play a vital role for the growth of Indian economy by contributing approximately 45% of industrial output, and 40% of exports. Despite its commendable contribution to the Nation’s economy, MSME Sector does not get the required support from the concerned Government Departments, Banks, Financial Institutions and Corporate, which makes them handicap in achieving their objective.

“In order to empower the MSME Sector to become the growth engine of Indian economy, it is necessary to support the MSMEs, and educate them to make optimum utilization of the resources, both human and economic, in order to achieve success. For this purpose it is also important that Investors, Industrialists, Government and Financial Institutions should come together to help micro industry in achievinving the objective of competitiveness”, added Kataria.

Members of Executive Committee of CMA including Dr. Manoj Kumar Sharma, Ms. Madhulika Kak, Er. M.L. Garg, Mr. Ashok Verma,Col. Gulshan Sharma,Dr. Aneet Kaur,Dr. Niraj Pasricha , Mr. J.N. Vohra, Mr. A.K. Gandhi ,Mr. Vivek Goyal ,Dr. T.L. Kaushal, Mr. Balwant Gurunay, Mr. Jagtaran Singh Nayyar, Lt. Col Karamjit Singh ,Mr. A.S. Tanda, Col M.G.S. Khurana, Mr. T.S. Chhabra, Mr. H.S. Bhatti ,Mr. G.S. Bedi, Mr. Anil Kohli ,Mr. Vikram Hans ,Mr. Gurdip Singh Deep, Mr. K. Sachdeva ,Mr. P.K. Verma, Brig. Saranjit Singh Sahney, Dr. P.K. Vasudeva ,Sh. Charanjit Singh ,Sh. B.M. Gulati ,Mr. A.K. Babbar, Mr. H.S. Malik were also present on the occasion.

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