Pratap Chandra Satrangi, Hon’ble Minister of State, Ministry of Micro Small & Medium Enterprises, Government of India while interacting with the Managing Committee Members of PHD Chamber of Commerce and industry today said that the focus must be on research & development, Innovation, Entrepreneurship & Co-operation for an integrated comprehensive National Growth.
The Minister of State mentioned that the Prime Minister has always extended a helping hand and has recognised the potential of MSMEs. We are closely monitoring the situation in consultation with banks so that relief measures announced by the Government are effectively percolated at ground levels especially the transmission of Repo Rate cuts to businesses/consumers in terms of reduced interest rates.
He further added that we should conduct more intensive research and development domestically, with strategic coordination between industry, academia and government to achieve the important mission of Atmanirbhar Bharat and we should Go Vocal for Local. Citing some of Swami Vivekananda’s sayings he stated that India should focus on becoming a producer rather being a trade merchant.
While mentioning about the pandemic Covid-19, he stated that it has adversely affected the poor people and the Government is taking proactive measures and providing financial stimulus to meet the overall national objectives of generating employment, reducing poverty and addressing rural-urban migration.
Moreover, Pratap Chandra Satrangi stated that Government has always recognised the importance of wealth creators as they generate employment opportunities and utilize resources in an optimal manner for promoting the socio-economic development in the country. The pivotal role for changing waste management to wealth creation is the motto which can be achieved through technology, said Hon’ble Minister of State.
The Minister of State, Ministry of Micro Small & Medium Enterprises graciously addressed the concerns of the members of PHDCCI and noted suggestions provided by PHD Chamber and its Senior Managing Committee on various aspects of the economy, trade and industry and assured full support of the government in addressing the issues and challenges faced by the MSME sector.
While appreciating the significant reforms announced by the Government, Dr D K Aggarwal, President, PHD Chamber of Commerce and Industry in his welcome remarks mentioned about the pivotal role played by the MSMEs in Nation building and going forward the potential and opportunities seen with newer technologies, like Artificial Intelligence (AI), which can expand the business opportunities for MSMEs.
PHD Chamber is assertive that under the dynamic leadership of Pratap Chandra Satrangi, Minister of State, Ministry of Micro Small & Medium Enterprises, India will emerge victorious in the fight against COVID-19. PHD Chamber assures its full-fledged support to the government and its countrymen in this extremely difficult time, said, Dr D K Aggarwal.
Sanjay Aggarwal, Sr. Vice President, PHD Chamber in his concluding remarks delivered the formal vote of thanks to Minister of State, Ministry of Micro Small & Medium Enterprises, Pratap Chandra Satrangi. In his remarks, he suggested that the government should notify strict guidelines/instructions in respect to the 45 days payment norm by the PSUs to the MSMEs to ensure the lifeline to the dying MSME units and promotion of Ease of doing business in the country.
Pradeep Multani, Vice President, PHD Chamber in his remarks provided a 5 strong suggestions including simplification and reducing the 30-40 authorities to 5 authorities MSMEs should need to deal with; One time registration and no renewals for businesses, end of inspections & changing the role of the authorities to facilitators and among others to boost the MSME sector in the country and achieve the ambitious target of USD 5 trillion economy.
The session witnessed the presence of other senior leaders and members of PHD Chamber of Commerce and Industry.