by Rajen KumarIndia's Manufacturing Muddle
What holds Indias manufacturing sector at the back foot? Why the sector has failed to emerge from the shadow of a strong service sector which has recorded a creditable growth in the...
Special ReportsMar 2014
When you have just decided to go ahead and chase your dream of higher studies, the one you had sidelined for quite some time now, you realize the road ahead is not so...
Over 5 million Jobs May be Lost in Next Six Months
The conference was jointly organized by All India Confederation of Small and Micro Industries Associations (AICOSMIA) and Delhi Productivity Council (DPC) to mark its Golden jubilee year. The meet raised a few pertinent issues including the need for ensuring the implementation of schemes advantageous to MSMEs and also the removal of impediments to make various schemes of practical relevance to MSMEs.
Speaking on the occasion T.K.A. Nair, Principal Secretary to the Prime Minister said that whatever disparities were prevalent in the process of skill building will be rectified. A Skill Development Corporation has been set up in order to initiate the requisite steps needed to hone skills.
Nair disclosed that the Prime Minister has already written to the Chief Ministers of every state to consider giving directions to the educational institutions for allowing public/private agencies to conduct vocational training and skill development for youth on their premises after class hours as it would help the agencies to promote enriching of skills.
He said that the advantages of inspiring people to become entrepreneurs as well as that of altering perceptions regarding disbursement of credit to the MSMEs were underscored.
N.C. Vasudevan, Director General, National Productivity Council, briefly highlighted the initiative of NPC in providing counselling and consultancy services to entrepreneurs. He underlined the need for MSMEs to show their mettle in the face of competition and to adapt to changing circumstances..
Dinesh Rai, Secretary, Ministry of MSME, informed that the Ministry was considering
implementation of an effective Procurement Policy which would facilitate increased Government purchases from MSMEs. A Coordination Committee formed under the chairmanship of Cabinet Secretary would tend to the problems of MSMEs regularly and carry out necessary action.
Concerns regarding hurdles faced by MSMEs in the contemporary scenario were voiced and the need to gauge the potential of the unorganized sector was conveyed. National Commission for Entrepreneurs in the unorganized sector recommended improving the access of the micro sector to total bank credit for there is paucity of funds to the sector. With the slowdown in economy the condition is grim for micro and small enterprises. However, one can find opportunities in the hardship, and that is the silver lining, he said.
In a paper presented on the occasion, Sudarshan Sareen, National President of the Confederation, expressed fears that if immediate corrective measures are not taken to infuse fresh fervour in the MSMEs, over five million jobs may be lost. “There may be widespread social unrest, labour and contractual disputes and a large number of defaults in legal compliances and repayment of business and personal loans. This will result in a flood of police complaints, legal notices and court cases making things worst.”
- Winner of appreciation award for promoting SMEs in India.
- 1st ever Indian magazine to penetrate tier II, III cities & the rural belt.
- Industry Partnerships include CII, FICCI, ASSOCHAM, PHDCC, AIMA, ITPO, SME Network, Federation of Indian Micro Small Enterprises (FISME)
- Official Magazine Partners for several national & international MSME events.
The Last Word
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