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Vietnam Seeks To Promote Trade With MSMEs of Odisha

29 January 2019


Bhubaneswar: Addressing the participants during the seminar on "Credit & Marketing Linkage to MSMEs & Exporters", which is being held on the sidelines of Odisha MSME International Trade Fair-2019, MSME Minister, Prafulla Samal said that MSMEs have a major contribution in the State’s economy.

“Government of Odisha has prioritized development of MSME sector with a slew of policy initiatives and incentives to promote growth and employment in the state,” said Samal.

Delivering a special address, Phan Sansh Chau, Ambassador of Vietnam invited MSMEs of Odisha in sectors particularly, Food Processing, Travel, Tourism, Pharma, Health Care, Handloom and Handicraft sector for trade with Vietnam.

He expressed his happiness that the quantum of trade between India & Vietnam has increased by 40% during 2018. Citing the analogy of MSMEs in Vietnam with that of Odisha, he suggested for adopting “Consume Goods & Services in Odisha”. He also interacted with the members of different Industries Associations namely, UCCI, OSSIA, OYEA and OASME in a separate meeting in the afternoon to explore potential of trade promotion in varied sectors.

Speaking on the occasion, MSME Secretary, LN Gupta informed that the MSME sector is a predominantly Micro Sector. 99% of enterprises relate to Micro category. In this context, he suggested for conducting a fresh census of MSMEs by Government of India to ascertain the ground status of MSMEs.

Highlighting the present credit requirement of MSMEs in the country, which is estimated at Rs.45 lakh crore, he stated only Rs.25 lakh crore of credit demand in the country is being met currently, leaving a gap of Rs.20 lakh crore. He impressed upon the bankers to improve the ratio of formal credit from 23% to 50% commensurate with contribution of MSMEs to the GDP and exports.

Chief General Manager, SBI, Bhubaneswar Mrs Praveena Kala, highlighted on developing repayment culture and modalities for availing of loan. While indicating the challenges of the sector, she suggested that MSMEs should understand their market and also have adequate stake through seed capital for their sustainability. She also informed about enabling initiatives like Contact-Less Platform, “59 minutes loan”, CGTMSE, Standup India, MUDRA, GeM, etc.

Sudhir Garg, CMD, NSIC & Jt. Secy, Ministry of MSME, Government of India announced willingness for signing an MoU between NSIC & MSME Department, Government of Odisha to facilitate handholding and providing marketing support to MSMEs of Odisha.

Garg also suggested for partnership among the MSMEs, improving quality and use of technology like virtual reality & artificial intelligence to overcome the threats of big Corporates and improving access to national and international market. He advised MSMEs to take steps for branding & showcasing their products globally by using technology.

Ashish Mathur, Managing Director, TATA Steel Special Economic Zone Ltd in his address admired the stable and able leadership of the State. He emphasized on key elements such as use of technology & e-commerce, access to infrastructure, access to funds, access to the people, retaining the work force and locating at right place for the promotion and growth of MSMEs.