Indian Chamber of Commerce and WBSIDCL jointly organize "Empowering MSMEs of West Bengal"

Kolkata, 4th May, 2023: Indian Chamber of Commerce in collaboration with West Bengal Small Industries Development Corporation Ltd (WBSIDCL) hosted an event titled “Empowering MSME’s of West Bengal” on May 3, 2023, at Biswa Bangla Milan Mela Prangan, Kolkata. The event aimed to empower MSME’s in West Bengal and highlight their economic contributions. The event witnessed the unveiling of WBSIDCL booklet along with the signing of the WBSIDCL MOU with the State Bank of India, followed by distribution of ZED Bronze certificates to MSME units and a session on access to credit by SBI, MSME Sustainable ZED certification scheme & Procedure of ZED Registration and Product Quality Control. Eminent dignitaries like Shri Nikhil Nirmal IAS, MD, WBSIDCL, Dr. Rajeev Singh Director General, Indian Chamber of Commerce, Shri Musaraf Hussen Vice Chairman WBSIDCL, Jay Prakash Mazumdar, Director, WBSIDCL, Shri Meghnath De, Special Secretary, MSME&T, and Shri V. Teja Deepak IAS Executive Director & OSD, WBSIDCL.

According to Shri Nikhil Nirmal IAS, “The MSME sector is an important pillar of the Indian economy, contributing significantly to job creations and economic growth. It is crucial to empower MSME’s and provide them with the assistance and resources they require to develop and prosper. The initiative is a step towards achieving the goal. It aims to strengthen the state’s micro, small, and medium enterprises (MSMEs). Since its inception under the MSME&T department, the agency has created 51 industrial parks and commercial estates across the state, offering infrastructural and marketing support to MSMEs. The estates offer land and sheds at reduced prices for the establishment of companies with modern facilities, resulting in a large number of employment opportunities in the state. The business also assists roughly 200 MSME suppliers with marketing and supplies operating items to government buildings. During the pandemic, WBSIDCL took steps to vaccinate the workforce, meet urgent supply needs in government hospitals, and provide economic relief to MSMEs. We leverage cutting-edge digital technology to revive MSME involvement and increase transparency in their operations. We have implemented land allocation software to make conducting business easier. All of the corporation’s activities have been recognised at the state and national levels, for which we have been nominated for and received various awards. The organisation has won three honours at the 9th edition of the Governance Now PSU honours. We have worked with SBI to assist MSMEs in obtaining loans for investment.”

Dr. Rajeev Singh, Director General, Indian Chamber of Commerce, delivered the Theme Address at the inaugural session and stated, ” The MSME sector plays an important role in the Indian economy’s growth, and it is important to promote and empower MSMEs in order to drive growth in the economy and generate opportunities. This initiative is a commendable effort. The MSME department and WBSIDCL have done this programme to help MSMEs in the state. West Bengal’s ecosystem has aided MSMEs in growing and expanding beyond the state’s borders. The theme is empowering MSMEs and honouring their accomplishments by honouring those who perform outstanding job. I recognise MSMEs’ limitations, such as limited resources and regulatory issues, but also their contributions to wealth creation and employment. There is an immense need to prepare for future difficulties such as emerging technologies and changing markets, as well as to focus on competitiveness via quality, technology adoption, market links, and branding. I propose expanding access to common resources such as testing and R&D laboratories, and I believe the government can help by providing land and subsidising equipment.”

Shri Meghnath De, Special Secretary, MSME&T, stated, ” We are committed to providing the essential support to enable the development of the MSME sector, which is essential for the growth of the Indian economy. We are glad to collaborate with WBSIDCL to assist MSMEs in West Bengal in reaching their full potential. It is necessary to report progress and gather comments on the department’s cluster of initiatives for inclusive and sustainable growth. The department executes programmes and initiatives through several MSME agencies, including WBSIDCL, SME and Textile directorates, Vishwa Bangla Marketing Corporation, and others. MSMEs are receiving considerable support, including hand-holding, financial clinics, and connection with bankers in order to produce bank loans. Three MSME facilitation councils are established to resolve late payments and skill development activities. Without going into further depth about the other programmes, I’d want to concentrate on the infrastructure development projects and schemes pertinent to WBSIDCL and the seminar’s setting. In recent years, the department has been successful in producing over Rs. 100,000 crore in bank loans for MSMEs in West Bengal.”

Shri Jay Prakash Mazumdar, Director, WBSIDCL, addressed the audience and emphasized the government’s efforts to support the MSME sector in West Bengal. He stated, ” The MSME sector is the backbone of our economy, and the government is dedicated to providing all necessary assistance and resources to assist them in growing and prospering. I am happy to encourage MSMEs and recognise their unique geographical location, which has historically attracted enterprises and industries. However, due to a hostile political environment and the departure of large industries, small and medium-sized businesses have struggled. A new administration was elected in 2011 with the goal of advancing the interests of small, medium, and micro-industries, and they created the land bank theory and system to address the land problem. The MOU and tie-up with SBI will further promote the growth of small and medium-sized businesses in the state, which we hope will help them regain their position as a major industrial hub.”

According to Shri V. Teja Deepak IAS, Executive Director & OSD, WBSIDCL, “The event provided a platform for MSME’s to network, share their experiences, and learn about new advancements and prospects in their sector. We are dedicated to aiding the expansion of MSMEs in West Bengal, and this event was a significant step in that direction. WBSIDCL created this event, the first of its sort in 70 years, with the most MSMEs in West Bengal. The state’s imaginative policies create jobs and provide a favourable business climate. Various associations and directors collaborated, and representatives from the Joint Director MSME DFO and SBI supported the event. The Vice Chairman is deeply committed to the growth of MSMEs and WBSIDCL.”

According to Shri Musaraf Hussen, Vice Chairman WBSIDCL, “This event was a great opportunity for MSME’s to come together, network and share their experiences. These enterprises are often lower in size and revenue than huge corporations, yet they are sometimes regarded as the economic backbone due to their considerable contribution to employment and innovation. We hope that by bringing MSMEs together, we will provide them with a great chance to network and cooperate, exchanging information and experiences that may help them overcome problems and build their businesses. Networking is a critical component of any entrepreneur’s success, and events like these may be extremely valuable to anyone wishing to grow their professional network. We are devoted as an association to assisting the growth of MSMEs in West Bengal. It’s essential to provide the necessary resources and support for these businesses to thrive. This could include financial assistance, access to training and education, marketing and promotional assistance, and other services that can assist MSMEs in overcoming common growth and success barriers. Overall, events like these are essential for the MSME community because they show a dedication to the development and growth of these vital enterprises. We can help establish a more strong and sustainable economy in West Bengal and beyond by providing the assistance and resources needed for MSMEs to succeed.”