Finance Minister Nirmala Sitharaman addressed the LUB Maharashtra Pradesh Adhiveshan 2022

Finance Minister Nirmala Sitharaman Addressed The LUB Maharashtra Pradesh Adhiveshan 2022 To Support MSME Segment

-Maharashtra Pradesh Adhiveshan 2022 also supported by Shri Devendra Fadanvis, Shri Dr. Bhagwat Karad, Shri Narayan Rane among other dignitaries -

Mumbai, September 16, 2022: Laghu Udyog Bharati (LUB), a non-profit pan-India association aiming towards empowering MSME, organized the LUB Maharashtra Pradesh Adhiveshan 2022 on Friday, September 16, 2022, to promote and support the MSME sector. The objective of this convention was to focus on the policies of the Central Government as well as the State Government and follow them up. Smt. Nirmala Sitharaman, Hon. Minister Finance and Corporate Affairs, GoI was the Chief Guest at the conference and delivered the inaugural address. Other eminent speakers were Shri. Devendra Fadnavis, Hon. Deputy Chief Minister, Maharashtra, Shri. Narayan Rane, Hon. Minister, MSME, GoI, Shri. Dr. Bhagwat Karad, Hon. Minister State for Finance, GoI, and Shri. Mangal Prabaht Lodha, Hon. Minister – Skill Development & Entrepreneurship, Maharashtra. The conclave had presence of Entrepreneurs from 36 districts and 100 talukas across Maharashtra. 

With key dignitaries and other eminent speakers from industry, the full-day conference featured stimulating and thought provoking panel discussions covering the MSME sector extensively. LUB Maharashtra Pradesh Adhiveshan 2022 threw light on important pillars supporting the MSME industries like Skill Development, increase in Budget for MSME announced in Union Budget, accelerating MSME Performance, PLI schemes, improvement in Export policies for MSME, integrating Artificial Intelligence techniques and many more. The sessions were curated to illustrate opportunities in Agro MSME, Finance MSME, export opportunities for MSME and importance of Branding and Marketing for the segment. 

Smt. Nirmala Sitharaman, Hon. Minister Finance and Corporate Affairs, GoI said, “As we step into the post-Covid-19 era, we have many new avenues opened up for the MSME businesses. MSME sector is the backbone of Indian economy and government is taking concrete steps to uplift and empower the sector. We have urged the private players to clear the payment cycle of MSME businesses within 45 days. Rs. 6000 crore incentive announcements have been done for first time exporters under the RAMP scheme and more than Rs. 500 crore has been transferred digitally to 18,000 MSMEs under the Self Reliant India fund; to further promote the businesses. We have 8,366 MSME-registered toy manufacturers in India and the government is supporting their growth by increasing the import duties and adhering to strict quality checks on toys. The khadi sector has grown exponentially in past eight years and 1.5 cr people have been given job opportunities.” 

She further said, while talking about several schemes started by the central government aimed at strengthening the MSME sector, “MSME businesses should adopt new technologies like Artificial Intelligence, IOT, data analysis techniques and should focus on implementation of skill-development and training centres with the help of cluster associations.”

Shri. Devendra Fadnavis, Hon. Deputy Chief Minister, Maharashtra said, “Maharashtra is on its path to become a one trillion economy to support India’s vision of becoming a five trillion economy. The MSME sector forms a larger foundation to achieve this vision, and we are paving the way to achieve it by planning and implementing stringent policies and schemes for its upliftment. Maharashtra has witnessed an exponential growth in the foreign investment from $6 bn in FY2013-14 to $26 bn in FY 21-22. We envisioned the infrastructure led development in the state and the Mumbai-Nagpur industrial corridor will be one such crucial part of it. This will propagate many employment and business opportunities which will directly contribute towards growth of the country’s economy and GDP. He further added, “MSME observes the environment for growth and investment of large quantity is important to manifest in terms of diversification, exports and branding to help them achieve their true potential. The government of Maharashtra believes in ease of doing business not only on paper but through practice and will holistically support the MSME segment to achieve its optimum potential.”

Shri. Narayan Rane, Hon. Minister, MSME, GoI said, “I urge the youth of this country to educate and take the MSME route actively to contribute towards the economic upliftment of India. MSME is an integral part of India’s economy and the youth should take up entrepreneurship and support the enterprises residing across India and help them avail the benefits of government schemes. I support the ‘Atmanirbhar Bharat’ Initiative, but it will be driven and contribute towards India’s GDP only when the MSME businesses are strengthen with supportive policies and reforms on timely basis. I urge the youth of Maharashtra to venture into different business with innovation and take this aspirations forward.”

Shri. Dr. Bhagwat Karad, Hon. Minister State for Finance, GoI said, “India is the fifth largest economy in the World and MSME is an economy development engine. There has been an ease in availability of credit now for MSME businesses and multiple schemes and policies have been undertaken by the central government for promoting the sector. Atmanirbhar Bharat was a very important step announced during covid era and Rs. 4.5 lakh crore package was announced for MSME sector which helped and supported the MSME businesses facing liquidity crunch.” Shri. Dr. Bhagwat Karad also launched the book on banking and finance and export during the conclave.

Bhushan Marde, Maharashtra Secretary Laghu Udyog Bharati said, “Coming five years are critical in terms of opportunities for Indian MSME sector as the country march towards a five trillion economy and it will be an conducive environment for the Indian manufacturing sector to grow. We want the MSME of Maharashtra as well as India to prepare themselves for this opportunity and opt for expansions and diversifications and Laghu Udyog Bharati will be there to support them at each step to make their dreams come true.”

The Laghu Udyog Bharati guided the MSME entrepreneurs in various ways at the LUB Maharashtra Pradesh Adhiveshan 2022 and the platform provided a successful stage for knowledge sharing and networking opportunities for the attendants.