11th Five Year Plan to raise 1000 crore for MSMEs: Hon'ble Minister Shri Dinsha J Patel at Milagrow Get Set Grow 2009

Milagrow Business and Knowledge Solutions, organised the 2nd edition of the World SME Conference 2009 at The Lalit, New Delhi. The theme of the conference was My Way, My Vision.

Chief Guest, Hon'ble Shri Dinsha J. Patel, Minister of State (Independent Charge), Ministry of Micro Small and Medium Enterprises, in his inaugural session addressed on the vision of the ministry of MSMEs in the short and long term plan. He shared that the 11th Five Year Plan will raise Rs 1,000 cr for the development of the MSME sector. He further stated, "In Indian economy, the MSME sector is the second largest contributor in terms of GDP after agriculture sector. It provides almost 80-90 % of employment to the Indian population and has 45% share in production and 35% in exports. In the year 2006, the MSME Act generated huge employment opportunities for the common people and we hope the trend will continue." Shri. Patel also released a study conducted by Milagrow in association with Milagrow - IMT Center of Excellence on "Effectiveness of Government Policies for the MSME Sector in India".

Prof. Anil Gupta, Executive Vice Chairman, National Innovation Foundation in his opening keynote complimented the MSME sector for a phenomenal growth. He however,emphasised that lack of investment in skill building is a burning issue and urged the government to help the MSME sector get its due recognition. He also expressed his concerns on ingenious innovations not getting noticed due to lack of information and awareness and therefore laid stress on use of technology in nurturing the grassroots innovation.

World renowned management guru, Dr. Jagdish Sheth spoke on the burning topic of growth titled "East or West, Growth for SMEs is the Real Test". He very elegantly demonstrated some of the factors responsible for the lack of attention to Indian MSMEs. He suggested a very important roadmap in developing the MSMEs in India. He said that "Entrepreneurships has no barriers, you can be illiterate but yet innovative".

Mr. Dinesh Rai said, "Our job is to make ordinary people into extraordinary. He stressed on skill building of remote area people." He named three initiatives by the Central government for the development of MSMEs, they were mainly Skill Development Council, Skill Development Mission and Skill Development Set-up as an engine to create more jobs. He threw light on the major problems faced by the MSMEs like credit problem, technology and skill management, taxation and revenue laws and issues of marketing and labour laws. According to him, the State and Central Governement should work paralelly to address the problems faced by MSMEs.

Speaking on the occasion, Mr. Rajeev Karwal, Founder Director, Milagrow Business and Management Solutions said 'The SME sector, which contributes almost 40-50% of the economic activity has been an underserved, manipulated and much abused sector because of a variety of reasons. Because of misplaced regulatory and business compulsions, the sector never got its due. It is my dream that these hidden jewels of the Indian Industry shine brighter than ever now, especially when the Indian market place is growing. Milagrow as an organization is dedicated to the cause of MSMEs and the World SME Conference which is an annual feature in the global MSME Ecosystem playing an important role in helping and serving this cause better."

In a panel discussion titled on 'IT Solutions for MSMEs-Lip Service or Real Solutions' experts from the industry recommmended that to serve the MSME sector profitably, there is a need to understand the market, provided indigenous and simple solutions that build confidence among the MSME communit,, about the benefits of IT.In the second panel discussion on role of management and technical institutions in developing entrepreneural ecosystems, eminent academicians emphasized on the need to inculcate entrepreneurship among graduating students. The event is supported by Ministry of Micro, Small and Medium Enterprises and the National Small Industries Corporation. This conference is sponsored by Alibaba, British Airways, Citibank, Dell India, Intel, IMT Ghaziabad, Tally Solutions.