Ministry of MSME to organize Mega International Summit on MSMEs’ Competitiveness & Growth.

Ministry of MSME to organize Mega International Summit on MSMEs’ Competitiveness & Growth in association with EDII, Ahmedabad

What is the news :

• Ministry of MSME, Government of India and the Entrepreneurship Development Institute of India (EDII), Ahmedabad, will be organizing a ‘Mega International Summit on MSMEs’ on March 29 and 30, 2022, at the India International Centre, New Delhi.
• The two-day summit is going to be attended by entrepreneurs, academicians, policymakers, industry leaders, thought leaders, business chambers, industry associations, startups, social impact organizations, MSMEs and self-help groups from India and across the world.
• Minister of MSME – Narayan Rane ( Rajyasabha MP from Maharashtra)
• Minister of state for MSME – Bhanu Pratap Singh Verma ( Constituency – Jalaun, UP)

About the summit :

• During the Summit, national and international experts will deliberate on subjects such as challenges and opportunities in the MSME sector amidst the COVID-19 pandemic, role of incubators/accelerators in MSMEs’ growth, role of conducive policies and non-financial business development services in MSME competitiveness, and how MSMEs can work in consortia to achieve sustainability. Sustainability being a major pain point, a special panel discussion has been lined up on ‘People, planet, and profit in the light of MSME sector development’.
• Discussions will also encircle MSMEs’ competitiveness, internationalization of Indian MSMEs, technology and innovation, digital transformation of MSMEs, entrepreneurship ecosystem and emerging opportunities in the MSME sector, and gender and disadvantaged communities’ entrepreneurship.

About Entrepreneurship Development Institute of India (EDII):

• The Entrepreneurship Development Institute of India(abbreviated as EDII) is an autonomous body and not-for-profit institute located Ahmedabad, Gujarat, India.
• Established in 1983
• Director – Sunil Shukla

Recent news about MSME ministry:

Credit Guarantee Scheme for Subordinate Debt (CGSSD) extended upto 31.03.2023

• Government announced creation of ‘Distressed Assets Fund- – Subordinate Debt for Stressed MSMEs’ on 13^thMay, 2020, under the Aatma Nirbhar Bharat Package.
• Accordingly, a scheme viz. ‘Credit Guarantee Scheme for Subordinate Debt’ was approved by the Government on 1^stJune, 2020 and the scheme was launched on 24^th June, 2020 to provide credit facility through lending institutions to the promoters of stressed MSMEs viz. SMA-2 and NPA accounts who are eligible for restructuring as per RBI guidelines on the books of the Lending institutions. Initially the scheme was upto 31.03.2021.
• In order to keep the avenues of assistance to stressed MSME Units open, the Government had earlier extended this scheme upto 31.03.2022.
• Now, on the basis of the requests received from the stakeholders of the scheme, the Government has decided to further extend this scheme till 31.03.2023.

Ministry of MSME, through Khadi and Village Industries Commission (KVIC), is implementing Prime Minister’s Employment Generation Programme (PMEGP) for generating employment in the country, including the rural areas, by setting up of micro-enterprises in the non-farm sector including Agro Based Food Processing Industries (ABFPI).

Ministry of MSME is also implementing ‘Scheme of Fund for Regeneration of Traditional Industries (SFURTI) on cluster basis in which the project/activities under agro based industries are encouraged.  In addition, KVIC is also implementing Honey (Bee) Mission for promoting beekeeping to supplement the income of farmers, unemployed youth, adivasis, etc.