MSME Additional Secretary and OSIC MD Prasanna Kumar Jena addressing the 6th edition of MSME Summit here on Wednesday, said, “The MSME sector is struggling.” The event was organised by the Indian Chamber of Commerce (ICC) in collaboration with the State MSME Department.

They are struggling for land to set up their establishment. Our State has land bank of industry which is under Idco but to get a piece of land from the land bank is still a distance dream for MSME units of the State, he told.

He also said though there is plenty of labour available in the market, but skilled manpower crisis still persists. The MSMEs are unable to find skilled manpower that is actually necessary to run their business smoothly, he added.

Jena also told, “Financial institutions like PSU and private banks are not keen to give finance support to MSME units. Their loan approval process is very cumbersome and needs lots of paperwork. To fulfill the fund requirement of MSMEs, years back the Government of India set up State Finance Corporation in every State. But all are now sick. They are struggling to survive. How can they help MSMEs. Time has come to revive these finance unit for betterment of MSME sector.”

Vendor development trough vendor connect and technology upgradation, availing suitable market linkages, MSME cluster development, revival of sick units will empower MSMEs and make them competitive globally, opined other experts.

Published On : 31-07-2019

Source : Daily Pioneer