Sangma seeks MSMEs participation
The Meghalaya government is keen on establishing a food processing hub in the state, said its Chief Minister Conrad K Sangma.
Speaking at the inaugural session of ASSOCHAM, Sangma the state has invited Micro, Small, Medium enterprises and the financial institutions, leaders to come forward for the industry corridor development in the North Eastern states.
There is immense opportunity in Meghalaya sectors like food processing, knitting, tailoring and embroidery, carpet weaving, carpentry and furniture making, leather, blacksmith and fabrication works etc.
The Chief Minister was speaking at the ASSOCHAM event on “Innovative Financial Solutions for MSMEs” on 25 Oct 2018 in Delhi.
ASSOCHAM Secretary General Uday Kumar Varma pointed out that the MSME sector has emerged as a highly vibrant and dynamic sector of the Indian economy over the last five decades.
It contributes significantly in the economic and social development of the country by fostering entrepreneurship and generating largest employment opportunities at comparatively lower capital cost, next only to agriculture.
“Our Government has taken up a number of initiatives such as Digital India, Make in India, Skill India, and Smart Cities to boost the growth of the sector further and will continue to formulate and execute even more plans to maintain a steady growth,” said Varma.
The Chamber firmly believes that if MSMEs are provided with ample finance facilities their performance in terms of productivity will further grow and they will be able to perform as per their capability, added Sanjay Salian.
Today MSMEs have more financing options from institutions like Banks, NBFCs, FinTech, Stock Exchanges, Private Equity, Factoring Agencies, Venture Capitalists and many more, elaborated Salian, who Co-Chairman, MSME Development Council ASSOCHAM. fiinews.com
