COVID has taught that digitization in business is not a luxury, it is a necessity: BB Swain, MSME Secretary
December 18, 2021
NEW DELHI, 18 December 2021: Mr BB Swain, Secretary, Ministry of Micro, Small and Medium Enterprises, Govt of India today said that the COVID has taught that digital literacy and digitization in business is not any more a luxury, it is a necessity now. The Ministry is in the process to announce a scheme on Digital Literacy for Micro Units to expand the horizon of Digitization in MSME Sector.
Addressing the FICCI's Annual Convention & 94th AGM on the theme India Beyond 75, in conversation with Mr R. Narayan, President, Confederation of the Micro, Small and Medium Enterprises (FICCI-CMSME) and Founder & CEO, Power2SME Private Limited, Mr Swain said that the Ministry is working with State Governments to increase the number of Micro and Small Enterprises Facilitation Councils and the number is increasing gradually to address the incremental cases.
Commenting on the repayment period of ECLGS, Mr Swain said that he is ready to pursue the suggestion of increasing the repayment period with the concerned Ministry. Today, he said the Udyam portal has more than 61 Lakh MSMEs registered, and the real-time data is available on the portal. He added that all the data of Udyam Portal is highly verified.
Responding to Mr Narayan's comment on schemes for medium enterprises, the Secretary said that Ministry has come out with the 'Self-Reliant Fund' which is created on the model of mother & daughter fund to support progressive medium enterprises through equity intervention with an expectation of total provision of Rs 50,000 Crore through daughter funds. Moreover, the Ministry is open to hearing specific and essential interventions required for the Medium Enterprises from the Industry, he added.
Speaking on testing facilities in the country, he said, expansion of facilities is required, and the Ministry will work towards it. He added that some subsidies are also available for Micro Units. More Global Tie-ups could also be explored by the Ministry in future.
The Secretary remarked that the Ministry is closely working with the Department of Commerce on National Resource Database System to develop the Global Market Intelligence System (GMIS), to provide data on market intelligence for MSMEs. The Ministry could certainly use some help from the Industry Association like FICCI-CMSME in the usage of such data in a conclusive form, he suggested. Secretary also commented that the "First Time Exporter" Scheme is also going to be launched which is an initiative of minor interventions like subsidies for micro-units aspiring to export.
The Secretary opined that it is important to identify Indian Products having potential in the global market, pinpointing the world-class element in it, further researching to find ways to improve the same and start interventions.
Mr
Narayan acknowledged the Ministry's wholehearted support and appreciated that
the Ministry of MSME has always lent ear to the industry issues and has taken
steps accordingly. He also presented the Green Certificate and the special
edition of the publication brought out by FICCI jointly with KAS on the theme �
India Beyond 75: Strategy for New India.
FICCI Media Division
Other Press Releases:
- India is well positioned with huge potential & going in the right direction: Stephen Pagliuca, Co-Chairman, Bain Capital
- National Tourism Policy will focus on skilling, digitalization, sustainable and green tourism: Arvind Singh, Tourism Secretary, GoI
- Risks to recovery remain on fore with the spread of the new variant: Dr Ayhan Kose, Chief Economist and Director of the Prospects Group, Equitable Growth, Finance and Institutions, World Bank
- Indian Defence and Aerospace sector to become 5 lakh crore by 2047: Rajnath Singh
- Need to create a focused export promotion body in the government: BVR Subrahmanyam, Commerce Secretary
- Single National Portal for Registration for EPR under PWM Rules, 2016: Secretary, MoEFCC, GoI
- Government is pushing for wider reforms for Ease of Living for all citizens: Anurag Jain, Secretary DPIIT
- Mr Sanjiv Mehta takes over as FICCI President
- India likely to become the fastest growing economy in the next FY: Amit Shah
- Minister of Commerce & Industry lauds FICCI's efforts in making India Pavilion at Expo 2020 Dubai a grand success; hopes to replicate the India Pavilion as a permanent feature at Pragati Maidan in New Delhi
- Educate yourselves; be open-minded, entrepreneurship mantra for women: Falguni Nayar, Founder and CEO, Nykaa
- Funding is not going to be a constraint - Global FIIs are already ready with funding proposals: KV Kamath, Chairman, (NaBFID)
- Synergized co-operation is an essential investment for a prosperous future in the region: H.E. Mr Shinzo Abe, Former Prime Minister of Japan
- Women's Parliamentarians united across party lines to support Greater 50 initiative of FICCI
- Government's focus on manufacturing sector strategically important to generate employment: Dr S Jaishankar, Minister of External Affairs
- Current Global Leadership Crisis an Opportunity for India to Emerge as a Global Leader: Dr Ian Bremmer
- Reputational benefit from generosity brings happiness: Chris Anderson, Founder-TED