Manufacturing Summit 2015 Presents A Knowledge Paper On MSME Sector in Maharashtra

Industries In Maharashtra Echo MAKE IN INDIA Ideology For Actualizing ‘India Growth Story’

Mumbai, January 29: Shri Jayant Patil, Former State Finance Minster today inaugurated the Golden Maharashtra Manufacturing Summit 2015. Held at the Y B Chavan Centre, it was attended by Shri Subhash Desai, Honourable Minister for Industry along with several leading luminaries. The summit holistically addressed the state-of-affairs of the manufacturing sector in Maharashtra, which was preceded by a Knowledge Paper on Micro, Small and Medium Enterprises (MSMEs) being presented to the dignitaries.

Minister for Industries (GoM), Shri Subhash Desai
addressing at the Manufacturing Summit 2015
organized by
Golden Maharashtra Development Council

Congratulating the efforts made by the Golden Maharashtra Development Council (GMDC) for providing a platform for MSMEs to voice concerns and open a dialogue with the government, Minister for Industry – Shri Subhash Desai said, “The government wants to fast-track progress in this sector and make Maharashtra the preferred destination for industries to prosper. Presently, there are a total of 76 licenses required for industries to operate their business. However going forward, businesses will be required to obtain only 25 licenses and this too in the future will be further reduced. This will help cut the response time for clearances for projects and will help curb red tapism. We would like to take inputs from this council from time to time and work inclusively for the betterment of Maharashtra.”

“The Planning Commission Report estimates a funding gap of about Rs.5,000 billion for the MSME sector by March 2017, a shortfall of finance to the tune of almost 43% of the total requirement of the sector. Even at present, 9 out of 10 MSMEs are yet to get access to banking finance,” said Mr. Vinod Gupta, President, Golden Maharashtra Development Council.

“MSMEs have historically co-existed along with the large corporates in the Indian economic demography; however, they have been made more formal and have been brought under an institutional window recently. The sector contributes close to 38% of India’s total industrial output and its presence is spread across the several industries. Its key trait of generating employment can be tapped to make it a driving force for battling unemployment in the country. As per the latest economic survey (2013-14), the state of Maharashtra as on December 31, 2013 was home to 181,117 MSME units employing 23.36 lakh persons,” he added.

The knowledge paper also examined and analysed the crucial role played by MSMEs in Maharashtra

(L-R) D R Dorgra, MD & CEO Care Ratings, Shri Jayant Patil,
Shri Subhash Desai, Vinod Gupta, President, GMDC,
Pradeep Bhargava, Director, Cummins India
Minster for Industries release Knowledge Paper on MSMEs
in Maharshatra

and the roadblocks encountered by them. The paper further went on to recommend solutions that included creation of a financial ecosystem to aid and procure finances from banking institutions; creation of infrastructure; and skill development.

Another key highlight of Manufacturing Summit 2015 was the presentation of awards in five categories viz. Medium enterprise won by ASHISH LIFE SCIENCE PVT LTD, Small enterprise won by HD FIRE PROTECT PVT LTD, Micro enterprise won by MATCHBOX ACCESSORIES PVT LTD, Innovative enterprise won by ELKAY CHEMICALS PVT LTD and Woman entrepreneur of the year was awarded to MUSTANG ENTERPRISES.

Some of the key topics discussed at the summit included the Future of manufacturing; Policies, reforms, compliances impacting the sector; access to capital and finance and the announcement of workshops for guiding MSMEs across all aspects of doing business.

“The ‘Make in India’ campaign introduced by the Central Government will play a crucial role for the MSME sector. The sector holds tremendous potential to serve as the backbone of this ambitious project of the government given its spread, labor reach and product range. This campaign is likely to attract foreign MNCs by inducing them to set up venture/angel funds to nurture and develop further the inherent depth of the MSME sector in terms of range of products and services, marketing networks and ability to grow fast,” concludes Mr. Gupta.

Golden Maharashtra Development Council is a not-for-profit organization and the catalyst for the holistic development for Maharashtra. The organization is committed to facilitate a better business environment and positivity in the State. In the past, Golden Maharashtra banner has created series of interactive platforms on the areas like Manufacturing, Infrastructure, Textile, Tourism and Women Empowerment et.al. The Council enjoys strong network with Industries, MSME, Cultural Organizations, Trade Associations and NRIs from Maharashtra as well as from other parts of the World.